RETAIL | Staff Reporter, Singapore

Singaporeans quick to adapt to changes in retail: Adyen

They utilise online retail channels at a rate higher than average.

Singaporean consumers are quick to adapt in response to the COVID-19 pandemic as they have adopted online channels at a rate above the global average, according to Adyen’s latest 2020 Agility Report.

Around 49% of the 1,000 Singaporeans surveyed say they shop more online now than prior to the pandemic, higher than the global average of 33%.

Whilst many consumers have opted for online alternatives, 72% of Singaporeans are looking forward to shopping at brick-and-mortar stores again, higher than the global average of 55%.

“With many impressed with how the retail sector adapted quickly to offer new services online, expectations have increased as a result and consumers want online options to stay,” said Warren Hayashi, Adyen president for APAC. “To thrive, retailers will need to maintain or exceed these new expectations and adopt a seamless, omnichannel approach.”

Around 54% of Singaporeans surveyed say they plan to shop more online despite the easing of restrictions, significantly higher than their global (36%) and Hong Kong counterparts (47%).

Moreover, 72% of Singaporeans have expressed concerns on hygiene, and prefer cashless and contactless payment options.

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