Around half of local retailers have no access to e-commerce: report

The e-commerce market will reach $4.4b next year.

Majority of Singapore’s retailers might be missing out on the country’s booming e-commerce market. A report released by the Singapore Productivity Centre (SPC) and DP Information Group (DP) revealed that only around half of local retailers have embarked on e-commerce.

The sector-wide Retail and Food Services Productivity Benchmarking exercise 2014 also showed that in the food sector, an even smaller number of firms have jumped into the e-commerce bandwagon. Only a third of F&B retailers currently use information and communication technologies in their ordering systems.

“Most of our companies in the two sectors have adopted some form of ICT in their operations. However, the adoption of ICT solutions in certain critical areas has room for improvement,” the report noted.

The local e-commerce market is forecast to reach $4.4 billion in 2015 in Singapore, four times its value in 2010.