[14 December 2005]
SMU launches Retail Management Competition in partnership with Malls of Centrepoint

The Singapore Management University (SMU) today launched the inaugural SMU-Malls of Centrepoint Retail Management Competition. Developed exclusively for SMU students pursuing the ‘Retail Management' course, the competition gives students valuable experience in embarking on real-life case studies of shopping malls and retail outlets in Singapore and making recommendations on how to boost the local retail scene.

Each team, comprising five to six members, has been tasked to select a shopping mall or retail outlet in Singapore, study its business strategy, examine its shortcomings and recommend areas for improvement. Participating teams are required to conduct research through interviews, surveys and field trips. Their recommendations need to address issues faced by the retail industry such as target market, customer segmentation, customer service, merchandising and branding.

"It will be an eye-opener to see the students' perspectives on how they address retail issues and make recommendations on the retail industry. We are excited to hear the novel ideas from SMU students. This retail competition will screen out the best ideas from the youths and will definitely arm the students with essential analytical and development skills when they enter the competitive retail scene," said Ms Felicia Ho, Senior Manager, Marketing Communications, Centrepoint Properties Ltd.

“This competition is timely with Christmas round the corner, the economy picking up and cash registers getting busy once again. Countries like Hong Kong , China and Thailand are fierce competitors and our local retailers have to rev up their business strategy to stay ahead. We can expect to hear many exciting and novel business ideas from our students which provide fresh insights and challenge conventional perspectives. This is the hallmark of SMU students who are schooled in our unique pedagogy that encourages out-of-the-box thinking and constant questioning of assumptions,” said Associate Professor Thomas Tan, ‘Retail Management' course instructor at the Lee Kong Chian School of Business, Singapore Management University.

A total of 28 teams have submitted their research ideas for this competition, of which the best six teams have been short-listed through a rigorous selection process for the final round of presentations on 14 December 2005. The top three teams will each receive S$1,000 prize money sponsored by the Malls of Centrepoint. The final round involves a panel of four judges who are eminent and established leaders in the retail industry who will evaluate and select the top three teams after presentations by the six finalist teams. The judging criteria include sustainability, profitability, feasibility, presentation style and overall substance. Participating teams are expected to come up with creative ideas and feasible solutions for the local retail scene. The competition will run annually for three years with cash prizes sponsored by the Malls of Centrepoint.

The panel of distinguished judges is as follows:
(1) Dato’ Dr Jannie Tay
Vice Chairman, The Hour Glass Ltd
President, Singapore Retailers Association

(2) Mr Tang Wee Sung
Chairman and Chief Executive Officer, C.K. Tang Ltd
Chairman, Orchard Road Business Association

(3) Mrs Kee Ai Nah
Director
Retail Division
Enterprise Development Group
SPRING Singapore

(4) Mrs Ong Choon Fah
Executive Director
Research & Consultancy
DTZ Debenham Tie Leung (SEA) Pte Ltd