Over 50 retailers receive awards for workforce transformation and excellence

SINGAPORE – Valuing jewellery was once a task that could be entrusted only to specialist employees at pawnbroker Maxi-Cash.

They spent about 10 minutes determining whether an item was genuine, relying on decades of experience and authenticity tests.

Now, the company has deployed scanning machines that can almost instantly determine the presence of precious metals. It plans to train all sales associates at its 47 outlets across the country to authenticate everything from a necklace to a ring.

The technology has already reduced the risk of counterfeits and shortened customer wait times, said Ms Jocelyn Chan, director of human resources and business excellence at Aspial Corporation, which owns Maxi-Cash.

It has also helped in the retention of employees, especially younger staff.

“This expanded scope of work allows sales associates to perform higher-value roles, increasing their earning potential. It also provides a pathway to career development as they possess more skills to take on larger responsibilities,” said Ms Chan.

Maxi-Cash received the Workforce Transformation Award, which was presented at the Singapore Retailers Association (SRA) gala night on Sept 25.

The award presented by Workforce Singapore (WSG) recognises companies for taking bold steps towards transforming the workforce through job redesign and reskilling.

The company had tapped WSG’s career conversion programme, which provides up to 90 per cent salary support to train mid-career workers to perform in-demand jobs.

In all, more than 50 retailers received awards for excellence in a range of categories at the event. Among the awardees were BHG (Singapore), which was named department store of the year, and FairPrice Group, which was crowned supermarket of the year. Uniqlo was awarded fashion retailer of the year.

Senior Minister of State for Trade and Industry Low Yen Ling noted that the retail industry, which is crucial to the Singapore economy, faces increasing challenges.

Global inflation and supply chain disruptions have affected consumer confidence and increased operating costs, Ms Low said.

Retailers also find themselves needing to adapt to the changing preferences of customers, who are looking for immersive and personal experiences at physical stores.

“Local brands that show great promise need support and mentorship to sharpen their business fundamentals and increase their visibility,” Ms Low said.

“The Government is committed to supporting retailers through both good times and challenging times.

“To achieve this, the industry and the Government have partnered on new initiatives to revitalise in-person shopping.”

She cited the

upcoming Singapore Retail Festival

, a rebrand of the Great Singapore Sale, which is organised by SRA and supported by Enterprise Singapore. It will be held from Sept 26 to Oct 12, coinciding with the Singapore Grand Prix, with the aim of attracting an influx of tourists.

Singapore Retail Festival will feature pop-ups, workshops, masterclasses, and sensory and personalised activities. “The idea is to create exciting, shareable moments and encourage repeat visits,” Ms Low said.

An incubation programme for local brands will also be launched in November, the result of a partnership between SRA and start-up incubator Innovate360.

This will provide brands with training in areas like marketing, live streaming and fund raising. They will also benefit from mentorship by industry leaders, Ms Low said.

Global brands including Lululemon and Nike have recently warned of rising costs in the face of US tariffs.

However, retail sales in Singapore have shown steady growth,

rising by almost 5 per cent in July from the previous year

, according to official statistics.

This comes even as the food and beverage industry has seen a spate of closures.

Businesses that spoke to The Straits Times earlier in 2025

pointed to high operating costs, including rent and utilities, and a lack of manpower, skilled or otherwise.

Mr Ernie Koh, president of the SRA, said the

Johor Bahru-Singapore Rapid Transit System Link

, scheduled to open by end-2026, will also “undoubtedly alter cross-border shopping patterns, further intensifying price pressures on our retailers”.

“However, I firmly believe that despite these challenges, our retailers will endure, adapt and evolve. The SRA stands ready to support our members and the broader retail industry through these uncertain times,” Mr Koh said.

Maxi-Cash, meanwhile, is looking for more ways to increase its footfall. Ms Chan said the company has improved the appeal of its stores, which are now designed to look more like retail outlets rather than traditional pawnshops.

It has also introduced an app and self-service kiosks, which allow customers to make loan payments without interacting with staff.

Customers also have the option to get an initial valuation of items on the firm’s website.

Ms Chan said her team is currently exploring a solution to make it easier for sales associates to calculate the value of jewellery, factoring in the daily price of precious metals and discounts.

“We have to look at ways to improve this so that our sales staff will feel more comfortable and more confident in performing their roles,” she said.