E-commerce websites are no longer just offshoots of retailers’ physical stores but valid alternatives for global expansion
Singapore is ranked the 11th out of the top 30 countries in The 2013 Global Retail E-commerce Index™ ,
which it is also under Digital DNA Market group with those big players like Japan and South Korea, regardless of our small populations.
Digital DNA markets are developed countries in Asia Pacific that hold opportunity for sophisticated players,
with solid online consumer behaviour, high numbers of active online consumers and advanced infrastructure to support online retail.
And surprisingly we are one step ahead of Hong Kong in our online retail sales growth and ranking.
That’s no reason why we should not consider expanding in online ecommerce and even throughout the world.
As for today Ecommerce is a key strategy for global business expansion for all retailers.
Going forward, to success in established and growing markets will depend on
innovation, better insights into consumers buying behaviour, consumer expectations from pre purchase to delivery.
Other than the commonalities across markets like competitive prices, easy payment options, quick delivery,
free returns and top-notch customer service. We have to look into innovative, collaborative and
provide personalized business models to sophisticated retail consumers in order to maintain and gain market share.
See more at: http://www.atkearney.com/consumer-products-retail/e-commerce-index/full-report/-/asset_publisher/87xbENNHPZ3D/content/online-retail-is-front-and-center-in-the-quest-for-growth/10192