More can be done to enhance e-commerce: study, Latest Business News - The New Paper

More can be done to enhance e-commerce: study

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Singapore may be digitally savvy, but more could be done to enhance e-commerce here, a study released by Ernst & Young (EY) in February has recommended.

The study, which polled 1,000 people here last May, found that almost half (49 per cent) do online research for a product in a store or at the point of purchase.

The top online activity they engaged in monthly or more often on gadgets was banking and finance, with 89 per cent of people doing so.

A distant second was online grocery shopping at 47 per cent.

Some 55 per cent said they would like to be able to buy from more retailers online as well.

EY Asean advisory digital leader Jonathan Rees said the findings show that "digital experiences are not just about online shopping and e-commerce".

"For Singapore retailers, there is a significant opportunity in merging the brick-and-mortar store with digital experiences.

"What is certain is going digital is no longer a 'wait-and-see' but a 'catch-and-act-now' imperative.

"Organisations must be ready to reset their customer strategies if they want to successfully capitalise on the growth potential of the digital economy." - THE STRAITS TIMES

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