As the e-commerce space gets hotter in Southeast Asia, should physical stores feel threatened? Online coupon search platform Flipit.com did some digging and put together an infographic that shows brick and mortar shops in Singapore needn’t worry.
In fact, the growth of online shopping actually serves as a parallel to the evolution of physical stores and Singapore’s online and offline retail worlds are growing interdependently. This is due to omnichannel being integrated in Asia’s vibrant mall culture.
Takeaways from the infographic:
- 56 per cent of Singapore’s shoppers claim that they prefer shopping at physical stores rather than online
- 85 percent say they visit a physical store each month, whereas only 49 per cent visit an online store
- e-commerce figures are on the rise, but this does not equate to a fall in in-store sales. Online and offline sales are growing together, not in spite of each other
- Singapore has almost double the retail space per person than Australia, despite being 10,000 times smaller than Australia geographically
- Cross-channel options are nurturing the growth of brick-and-mortar stores by integrating the online and offline worlds, and allowing physical stores to ride the wave of ecommerce success