Retailers must transform digitally to keep up with SEA's Internet economy

Singapore

AS South-east Asia's Internet economy continues to grow, retail companies must transform digitally to meet changing consumer preferences, said Minister-in-charge of Trade Relations S Iswaran on June 13.

"The drivers of this growth are 600 million consumers with a median age below 30, who can potentially leapfrog the technology evolution curve and directly adopt smartphones and e-commerce as a way of life," he told the Consumer Goods Forum's 62nd Global Summit at Marina Bay Sands Expo and Convention Centre.