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

To slow the spread of the virus at the peak of the pandemic last year, Singapore’s government imposed a “circuit…

Read more…

Share.

Comments are closed.