Online retail boom gets reality check

Singapore

LAST YEAR'S Covid-19 circuit breaker looked like boom time for e-commerce, as shuttered stores forced shoppers online.

But cheerleaders of the digital economy might be disappointed one year on: The share of online sales in Singapore, which peaked at 24.9 per cent of all domestic retail in May last year, has since tapered off to 10.1 per cent as at this February.