Coronavirus: Businesses speed up move into digital space
T
he pandemic has accelerated the move to digital among small businesses as hawkers and retailers scramble to get online to stay afloat during the circuit breaker period, panellists said yesterday.
Mr Yeo Hiang Meng, president of the Federation of Merchants' Association, Singapore (FMAS), at the webinar, said: "Many bricks-and-mortar businesses... have been disrupted during this period, but we also see this trend of business being done in the digital space instead.
"We have seen in the last few weeks that many traditional food and beverage businesses, and even hawkers, rush to go online and create a presence."
He said that even residents in heartland areas search online before going out to buy products and they can make inquiries over social media channels, such as Facebook and WhatsApp.
Senior Minister of State for Trade and Industry Chee Hong Tat noted that while online platforms will not replace physical shops, there will be fewer bricks-and-mortar outlets and they will shift towards providing an experience for the customer rather than just mere transactions.
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