Sales growth the key priority in next phase of productivity

Singapore

AS the retail sector moves into its next phase of productivity improvements, businesses must focus not just on operational efficiency but also on driving top-line growth, says Senior Minister of State for Trade and Industry and National Development Lee Yi Shyan.

And with sales growth a key priority in the government's Second Retail Productivity Plan, support and know-how in the areas of e-commerce, branding and concept innovation will be provided to retailers over the next five years.

Said Mr Lee at the launch of the new plan on Tuesday: "While a good majority of our retailers could improve their productivity by improving operational efficiency, at least in the short term, I believe a vast number of our retailers will have to transform to become e-retailers quickly. The trend of shopping online is unlikely to reverse, and we have to be prepared for thi…