As Singapore enters a new phase of greater normalisation living with endemic COVID-19, CapitaLand Investment (CLI) is evolving its omnichannel retail strategy with the launch of two initiatives through its CapitaStar rewards programme – CapitaStar For Business that offers a suite of digital solutions for retailers operating in CapitaLand properties and beyond, and a platform partnership with cashback app ShopBack.
Driven by Singapore’s growing digital literacy and consumer trends, CLI will evolve its omnichannel strategy, currently anchored on e-commerce platforms eCapitaMall and Capita3Eats, to focus on growing the CapitaStar ecosystem via CapitaStar For Business and the CapitaStar-ShopBack partnership. The operations of eCapitaMall and Capita3Eats will thus cease on 30th April 2022.
Mr Chris Chong, CEO, Retail & Workspace (Singapore & Malaysia), CLI, said, “With COVID-19 accelerating the popularity of digital channels among consumers, we recognise the importance of enhancing our digital touch-points to increase the attractiveness of CapitaLand’s retail operating platform. Building on the strong foundation of the CapitaStar ecosystem in driving tenant sales and increasing customer stickiness, we are bringing in new partners and adding more digital services to create sustainable value for our retail partners in an omnichannel environment. We are excited about the potential of CapitaStar For Business and the CapitaStar-ShopBack strategic partnership in improving CapitaStar’s reach and data analytics to drive better customer outcomes. We will continue to explore new ways of harnessing the digital capabilities of CapitaStar to provide value-adding experiences for both consumers and tenants.”
CapitaStar For Business addresses the needs of retailers looking for holistic digital solutions to reach out to an established database of members, reward their stakeholders and cultivate consumer loyalty. Marketed as a paid subscription service, it will be open to retailers operating in CapitaLand properties and beyond. Retailers utilising the service can issue STAR$® to their customers, enjoy visible branding and run targeted promotions supported by data insights through the CapitaStar app.
ShopBack is Singapore’s shopping and rewards platform with close to 2 million users and a track record of driving sales for merchant partners operating online and offline. In 2021 alone, ShopBack has awarded close to S$20 million (US$14.7 million) in cashback rewards to its users in Singapore. Under an exclusive partnership between ShopBack and a shopping mall network in Singapore, CLI will work with ShopBack to onboard its retail tenants to the ShopBack platform to drive in-store spending at CapitaLand properties. CapitaLand tenants who sign up with ShopBack will receive preferential rates, gain access to a new pool of ShopBack users and increase brand profiling and generate more sales via both the CapitaStar and ShopBack platforms. They will also benefit from online and offline marketing campaigns co-created by CapitaStar and ShopBack.