News
RETAIL | Staff Reporter, Singapore
view(s)

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.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.