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Expanding a Hong Kong-based Furniture Store to Singapore with Funding Support




Background


A Hong Kong-based furniture brand, well-regarded for its quality products has encountered a stagnation phase due to the saturated local market. The company wanted to expand its operations to Singapore to explore new growth avenues, they collaborated with us to penetrate this new market.


Challenges


Our client encountered multiple challenges. They identified Singapore as their target for market expansion, but they have no brand awareness in the location and they also have concerns about the marketing cost.


Solutions


We began by conducting extensive market research to understand customer behaviour and preferences in Singapore. This allowed us to develop a series of strategic initiatives to effectively penetrate the market.


First, we revamped the client's e-commerce website to enhance accessibility for overseas customers, both B2B and B2C. This upgrade served as the backbone of our strategy. We then implemented comprehensive advertising campaigns across multiple platforms to build brand awareness and drive meaningful traffic to the website, facilitating conversions. To further boost conversion rates, we tailored a new set of product offerings based on customer preferences and purchasing patterns.


We supported our client in participating in both B2B and B2C trade shows, enabling them to showcase their products and engage directly with potential customers and partners. Additionally, we facilitated the establishment of local distribution partnerships in Singapore, securing distribution opportunities to expand market reach.


To boost brand awareness and trust in the new market, we collaborated with some of the largest parenting media outlets in Singapore, which allowed us to effectively reach the target audience and raise awareness through tailored content. 


Recognizing the financial requirements for successful market expansion, we assisted the client in applying for the Hong Kong government’s BUD Fund, which supports 50% of the costs associated with market development. This helped to provide more flexibility to execute effective marketing activities.


Results


Through effectively implementing the strategy and the funding covering 50% of the costs, our client was able to significantly raise its brand awareness and establish a solid customer base in Singapore.


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