• July 9, 2021

Why Live Commerce Is Changing Online Shopping

The way people shop has been changing even before COVID-19 began. Can Singapore’s SMEs – especially those in the retail sector – capitalise on the latest evolution of online consumer behaviour to meet the challenges of the new normal?
Even with the loosening of restrictions in Phase 2 of the Circuit Breaker which saw more businesses across sectors open their physical stores and shops again, there are still those in Singapore who prefer to stay away from large crowds and get the products they need from the safety and comfort of their own home.

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This change in behavior, as a response to the realities of the pandemic, has simply added to the growing e-commerce trend that has exploded in Singapore and the rest of Southeast Asia. How then can SMEs here leverage this technology as an opportunity to increase sales? And what are some of the new developments in online shopping that could inspire and prove useful to businesses in Singapore?

Live commerce – where shopping meets streaming

A fusion of live-streaming and e-commerce – live commerce – through platforms such as Baidu and Tencent has grown extremely popular in China so much so that the country is expected to hit over $177 billion in sales this year.

A large part of this could be attributed to the nationwide lockdown caused by the coronavirus in February and March but the growth and appeal of live commerce is clear to see.

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