Singapore companies are increasingly moving their businesses online to deal with the disruption that Covid-19 has brought to their brick-and-mortar operations.

Even small and medium sized companies, which were previously less inclined to operate online, had to rethink their strategies when the pandemic hit.

“Pre-Covid, there could have been a little bit of hesitancy, in adopting some of these e-commerce strategies. They will say, no, it takes up too much time. It requires a lot of resources, a lot of investments,” Selena Ling, chief economist at OCBC bank, told CNBC.

“But I think what has changed in terms of the mindset, really, in the past 12 to 15 months, is that it’s a ‘do-or-die’ kind of approach,” she added.

A lot of the businesses, even smaller ones had to pivot to this digital model.

Selena Ling

chief economist, OCBC bank

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