Image source: https://www.mti.gov.sg/ITMs/Overview
The Retail ITM was first launched in 2016, comprising a suite of targeted and industry-focused initiatives to accelerate the pace of transformation in the retail sector, including a focus on innovation and the adoption of new technologies to drive productivity, as well as staying agile and responsive to trends in jobs and skills. Since its launch, the retail sector has made good progress in digitalisation and productivity improvements.
Retail ITM 2025
On 7 October 2022, Ms Low Yen Ling, Minister of State for Trade and Industry, launched Singapore’s Industry Transformation Map (ITM) 2025 for the Retail sector.
“The refreshed roadmap will arm the sector with what it needs to meet the accelerated changes brought about by COVID-19,” said Ms Low.
The updated Retail ITM focuses on strengthening Singapore’s positioning as a global lifestyle and retail hub, anchored with new experiential concepts and innovative products. The Retail ITM will also focus on building a core of global Singapore brands, and uplifting the quality of jobs in the sector.
Strategies of the Retail ITM 2025