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March 27, 2019updated 02 Nov 2021 10:17am

JD.com and Octopus team up for retail innovations

Chinese e-commerce company JD.com has partnered with Singapore-based company Octopus Retail Management for its latest point of sales (POS) suite of platforms.

Chinese e-commerce company JD.com has partnered with Singapore-based company Octopus Retail Management for its latest point of sales (POS) suite of platforms.

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The deal is part of Octopus’ strategy to digitally transform the retail industry and will give the company access to more than 300 million active shoppers of JD.com.

Octopus’ cloud-based retail management solution enables companies to develop personalised offerings based on consumer’s shopping and dining behaviours, using the customer’s social media interactions.

The platforms also helps retailers monitor sales, staff performance and inventory.

“Through our integrated solutions, our clients are able to offer their customers an enhanced seamless shopping experience and create more value.”

Octopus founder and managing director Ong Whee Shiong said: “The digital age has thrown several challenges at businesses today. It has become critical for retailers to have an efficient retail management system to enhance their business productivity.

“Our products aim to empower the retailers to embrace digitalisation and streamline their online business.

“We believe online and offline need to go hand in hand today. Through our integrated solutions, our clients are able to offer their customers an enhanced seamless shopping experience and create more value.”

JD.com established a partnership with Intel, in December 2018, to explore the use of Internet of Things (IoT) in smart retail solutions by opening the Digitized Retail Joint Lab.

Leveraging Intel architecture, both companies focused on developing next-generation vending machines, media and advertising solutions, and technologies for future use in retail stores.

Octopus offers POS solutions to brick-and-mortar small and medium-sized enterprise (SMEs). It currently has operations in Singapore, Malaysia, Philippines, China, Sri Lanka, Indonesia and the US, serving 3000 customers through its 20,000 retail points.

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Spot leading innovative companies with GlobalData’s Innovation Scorecard

Innovation remains a necessity in a disruptive ecosystem, as continuous innovation allows companies to adapt, evolve, and grow through disruption. Using our in-house alternative datasets, we are excited to launch GlobalData’s Innovation Scorecard. This scorecard will allow clients to rank 3,500+ companies on their innovation activity, impact, and disruptive potential across geography, sector, and theme. The scorecard provides a data-driven framework to rank leading companies on the potential of their intellectual property (IP) portfolio. GlobalData’s Innovation Scorecard focuses not only on the activity of innovation in the organization but also on its impact and disruptive potential using the 3I framework: Intensity, Impact, and Ingenuity. The tool helps clients to identify the most innovative companies that are disruptive leaders and challengers and can create alpha for their portfolio using the insights driven by 19+ high-value KPIs. Download our report to find out more about this innovative tool. Key findings derived from this tool include:
  • Alphabet, Tencent, and Qualcomm are the top three innovative companies in the last 10 years
  • The scorecard finds Technology & Communications and Pharma & Healthcare as the two main sectors driving innovation
  • Loreal placed as ‘Disruptive Leader’ in the Consumer sector, while Revlon has been identified as a traditional laggard
  • Companies such as Etsy and H&M are challenging retail ‘Disruptive Leaders’ Amazon and Walmart
by GlobalData
Enter your details here to receive your free Report.