Thoughts for food, food for thoughts
Italia Store is a Nearco project which is aimed at promoting and selling outstanding Made in Italy products. Italia Store will play two essential functions: (i) traditional grocery store and (ii) contact point for local importers. The store is a showcase for Food & Beverage manufacturers and a reference point for those importers who, having appreciated a specific product, intend to add it to their sales channels (large-scale distribution, HORECA channel and specialties shops).
Being part of Italia Store first of all represents an investment in internationalization and marketing to food manufacturers, in order to test and open up to a new market, at reasonable costs. However, Italia Store also serves as temporary and shared representative office for all the companies who will take part in the project: a strategic point of support for their activities, allowing them to engage with local players and schedule meetings.
During the first year, each product is sold in the Store and, at the same time, its attractiveness to the Singaporean market, as well as to the wider Sud-East Asian area, is analyse. The first step of the process will be to select from 20 to 40 Made in Italy products of the Food & Beverage sector (dairy products, confectionary products, pasta, canned products, cold cuts, olive oil, alcoholic and non-alcoholic beverages, etc.). This selection will avoid the presence of duplicated or competing products in the Store, on the contrary it will strive for building on their complementarity. The products will convey the concepts of tradition, well-being and sustainability.
Italia Store will be of approximately 100 m2, elegant and welcoming. It will include a multifunctional area for events, meeting and office activities. Ideal Singapore areas for the Store have been identified in Holland Village, Dempsey, Siglap o Katong. As a matter of fact, these areas are populated and frequented by a cosmopolitan target, belonging to a high social-economic segment, with a higher education, choosing their vacation spots on the basis of the culture and food heritage of the destination. This population shops in stores that are characterized by a high level of customer care, efficiency and presence of products who signify the social status of the concerned consumer.
Italia Store will be organized and managed by Nearco both directly and through two local employees who will be hired on the basis of their language skills and ability to sell, as well as of their energy in promoting the Made in Italy spirit. Nearco will carry out intense promotional and networking activities - including show-cooking events and tastings - in order to advertise the products, capitalize on their uniqueness and assess their perception to the Singaporean market.
Regular reports on product performance and perception will be shared with the food manufacturers that are represented in the Store. The sale of the products will also take place through the creation of sales channels on the most important local e-commerce websites (RedMart, FNBmarket, Nuss, T-Mall, etc).
The products, as a result of the appreciation gained through the Store and Nearco‘s promotion, will be placed in the most appropriate local channels through the intermediation of Nearco. Nearco has identified several interested local players and it is already in the process of discussing the placement of Made in Italy products with them.
More in detail, Nearco will take care of: retrieving the best counterpart for each producer, negotiating the contractual terms of sale on its behalf and arranging shipments and other bureaucratic procedures.
As a result of the abovementioned activities Nearco will retain a percentage calculated on net value of the successful sales, while intending to establish a long-term and fruitful collaboration with both producers and local players for forthcoming business opportunities.