SINGAPORE: Synagie Corporation Ltd., Southeast Asia’s leading e-commerce enabler that assists brands to execute their e-commerce strategies using its cloud-based platform, has signed an agreement with a wholly-owned subsidiary of Hong Kong Main Board listed Weimob Inc to offer its integrated cross-border e-commerce and advertising solutions that will help SMEs in Southeast Asia penetrate China’s behemoth social e-commerce market.
[the_ad id=”31605″]Weimob is China’s leading cloud-based commerce and marketing solutions provider and also the largest third-party service provider for SMEs in the WeChat ecosystem, which has more than 1 billion monthly active users.
It offers advertising solutions that covers the entire Tencent ecosystem, Baidu and Q&A platform – Zhihu to help merchants drive traffic. Through this agreement, Synagie will leverage on Weimob’s e-commerce enablement solutions and deep domain expertise in the China e-commerce market to offer an end-to-end solution via Synagie’s cloud commerce platform that will allow SMEs in Singapore and SE Asia to penetrate China’s social e-commerce market. Synagie’s end-to-end solution will cover the entire commerce value chain from setting up SMEs’ WeChat official account to digital store management, content translation, digital marketing and smart supply chain for fulfilling cross-border orders to consumers in China.
SMEs are currently facing significant challenges managing their businesses in the new economy due to limited budgets, lack of technology know-how and having little or no access to easily deployable and cost-effective solutions. Synagie believes that this is a first-of-its -kind one-stop business solution that will allow SMEs to seamlessly manage and scale their online cross-border businesses in SE Asia and China.
CEO & Executive Director of Synagie, Mr Clement Lee commented, “No more worrying about logistics, warehousing or how to engage new customers in different countries. All a SME needs is an internet browser to manage and grow their multi-channel or cross-border online business in Southeast Asia and China. We believe this is the future of commerce and one that is well suited for SMEs as no upfront investment is required. We are looking at a “new partnership model” with our customers where we will take a percentage of sales when we help them sell.”
According to Frost & Sullivan, the transaction value of social e-commerce in China increased by a Compound Annual Growth Rate (CAGR) of 100.6% from 2013 to 2017, and is expected to further grow at a CAGR of 35.5% to RMB 2,782.6 billion in 2022.
Social e-commerce in China is conducted through social network services, of which WeChat is the most popular. The social e-commerce model offers unique advantages for SMEs to expand their businesses compared to traditional e-commerce marketplaces, where SMEs acquire, accumulate, and maintain control over transaction data and their customers while retaining their unique brand identity. Synagie is targeting for this China social e-commerce solution to go live by 3Q2019.