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