Ryan Yim took on the reins of Giftionery International in 2012, an e-commerce website offering wholesale corporate gifts and custom-made merchandise.
As the business grew, Ryan saw the need to develop strategic partnerships with various stakeholders. The company knew that in order to sustain a competitive advantage; a strong supplier base, competitive pricing and short lead times were three key factors for constant review and enhancement.
Leveraging upon these strengths, the business rapidly expanded, and it became apparent that Ryan and his team needed to accommodate to the increasing demand for mass customisation.
Ryan met Sneha, our Business Advisor, in May 2018 through a referral. He shared his company’s long-term goals with Sneha such as enabling process automation for mass customisation and providing customer empowerment through identifying consumer trends and needs.
Sneha brainstormed with Ryan and identified critical internal and external factors through a business needs analysis. Sneha and Ryan further understood the impact of such factors upon business performance.
Based on findings of the business needs analysis, Ryan and Sneha outlined a solution with the following key features:
– Comprehensive customer analytics
– A self-service platform for product customisation
– Product recommendations based on consumer behaviour analysis
“As an increasingly competitive e-commerce business transcends through the business lifecycle, customer experience becomes increasingly important. A platform that encompasses features to empower the customer complimented by strong back end support will stand a long-term competitive advantage,” shared Sneha.
Further than that, Sneha suggested that he apply for the Capability Development Grant (CDG). The grant would allow Ryan to enhance the business’s internal processes and in turn, increase the brand’s value.
In January 2019, Ryan’s application for CDG was approved.
“It became apparent through the business needs analysis that the short-term goals needed to focus on mass customisation due to the increasing competition and demand. To stay ahead of the competition, it is crucial for us to have a competitive advantage, so we hope this grant will enable us to look into optimising our processes so that we can do more with lesser manpower,” shared Ryan.
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