Digital transformation the lifeline for SMEs in pandemic

THE government's decision to extend and tighten circuit breaker measures to June 1, 2020, left many retailers with heightened fears of survival.

Already, the detrimental impact is playing out with retail sales declining drastically from 8.4 per cent in February to a further drop to 13.3 per cent on March 1, the biggest plunge in 22 years.

This downward pressure on traditional retailers is only set to be even more pronounced for entrepreneurs and small and medium-sized enterprises (SMEs).