William Chin set up Mummy’s Market. Mummy’s Market is the uncontested platform connecting parents and retailers in Singapore.
What’s your story?
After National Service, I enjoyed a rousing start to my corporate career with successful stints at events and conventions companies such as IQPC, Hannover Fairs Australia and Lighthouse Independent Media in management roles, building my experience in conventions, trade fairs and events.
However, I hit a particularly bad streak of unemployment after that, facing difficulty finding jobs because according to recruiters, I was overqualified, yet too young. In fact, at one point I was struggling so badly with my family loans that I was sharing bowls of ramen with my girlfriend for our meals, to save costs.
My financial pressures eventually culminated in my forced venture into entrepreneurship where I had to strike out my own path with a brief stint in Expomal. However, this turned out to be my next break that fuelled my current success. It was there I built up Smartkids (another wildly successful baby and child fair) before it was bought out by a bigger company. Inspired by SmartKids, I started Mummy’s Market and eventually Baby’s Market, outperforming established names in the business to take its current place as market leader.
What excites you most about your industry?
Mummy’s Market is the industry leader in baby, kids, maternity and household with 80% market share and our clients – coupled with branding, advertising and exhibiting on Mummy’s Market platforms, we are seeing a 30-60% company growth year on year despite the downturn in the economy. With attendance of over 100k consumers per fair and serving 70-80% of pregnant mums, our actual business is in data, data collection and processing from consumer fairs.
I am excited about how big data analytics from Mummy’s Market can be applied at every stage of the retail process such as data segmentation – for retailers now when mums are giving birth to sending relevant content over. This will transform and innovate the industry of baby fairs and Mummy’s Market, with the huge amount of data we process from our fairs yearly, is the forerunner in this disruption. With this, we have transformed the DNA of how digital business has always been done. Global online marketplaces are burning cash quickly to achieve big data analytics, but not us.
Another testament to Mummy’s Market’s popularity is that huge marketplaces have been trying to pass off as Mummy’s Market. It shows that we are heading in the right direction and the most exciting part is, we are only at 10% of where we want to be – a platform where $1 billion gross market value products are transacted annually around Asia in a niche market.
What’s your connection to Asia?
I was born and bred in Singapore, and intend to stay in Singapore to build the Mummy’s Market brand.
Favourite city in Asia for business and why?
Singapore – if one can strategically become a leader in a small market like Singapore, its grounds to show that one’s business has an opportunity to grow further in larger countries.
What’s the best piece of advice you ever received?
“It is easy to become number 1 because the others can just copy and tweak to overtake you.
It is more difficult to STAY number 1, because you have no one to copy. You have to innovate.”
Who inspires you?
Steve Jobs – he transformed the digital age. Without the invention of smartphones, mobile computing and mobile advertising would never have grown. He changed the way businesses and consumers communicate. Without the introduction of iPhones, mobile applications would have never existed the way we are using them today.
What have you just learnt recently that blew you away?
You no longer have to lick stamps to make it sticky.
If you had your time again, what would you do differently?
Nothing. I love my life and my family. And I love the platform Mummy’s Market has created to help businesses grow.
How do you unwind?
I play with my little 1 year old baby girl.
Favourite Asian destination for relaxation? Why?
Taiwan – cool weather with beautiful mountains and lake scenery.
Everyone in business should read this book:
7 Habits of Highly Effective People – Stephen Covey
Shameless plug for your business:
Mummy’s Market has established its reputation as not just Singapore’s but Southeast Asia’s largest baby fair:
- Nearly S$100 million gross merchandise volume transacted on Mummy’s Market platforms annually
- 800,000 visitors at its fairs yearly
- 80% of all of Singapore’s baby product distributors in one convention
- 15-20% year on year increase in sales volume at every baby fair since its inception
Apart from market dominance, Mummy’s Market also has the largest database of parents and the number 1 platform for MNCs and SMEs to reach out to this audience. From exhibitions, magazines, seminars to digital campaigns and roadshows. Mummy’s Market is the uncontested platform connecting parents and retailers in Singapore.
This interview is part of the ‘Callum Connect’ series of more than 500 interviews
Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.