Traditional Retailers Adopting Digital Solutions to Avoid Possible Extinction

It has become even more critical that businesses set up and strengthen their e-commerce and digitalisation capabilities in order to survive now and in the future.

The coronavirus pandemic has dramatically impacted our way of life and business. As more people change their way of consuming, traditional retailers and food and beverage (F&B) outlets need to adapt quickly or face drastic consequences.

In Singapore, over 4000 businesses wound up in March 2020, and the figures more than doubled in April 2020. Many of these casualties are traditional retailers who were unable to pivot and adjust their offline sales channels when the pandemic hit.

Although there have been many advancements and innovations made for e-commerce and digitalisation, many traditional business owners are still behind in the adoption and successful leveraging of such solutions. The root cause usually does not differ far from reasons like the lack of knowledge, and the worry of not being able to catch up with technology while having to meet daily operational demands.

While the future remains uncertain, one fact is definite; e-commerce is gaining market share and will continue to do so. According to eMarketer, the e-commerce sector is expected to grow to $5 trillion by 2023. It has now become even more critical that businesses set up and strengthen their e-commerce and digitalisation capabilities in order to survive in the future.

Many businesses that have embraced and successfully implemented digital outreach solutions and online sales channels are least affected by the pandemic and still generating revenue. On the other hand, businesses that have not made the necessary digital transformations are experiencing an immense negative impact on their sales when most cities around the world went into lockdown.

Amidst the gloomy economic outlook and challenges in digital adoption, several agencies bring hope by providing relevant services to ease the steep learning curve that many establishments are experiencing. One such agency is InfinaCo. - a Digital Transformation Agency in Singapore. InfinaCo. is extending its suite of services to assist many traditional businesses and SMEs to establish an online presence with minimal friction quickly.

The most prominent solution offered by InfinaCo. is V-MORE’s Customer Acquisition Solution, which has benefited many traditional retailers from the beginning of the pandemic. V-MORE is a fast-growing advert dollar sharing platform with a vibrant e-commerce ecosystem; her Customer Acquisition Solution taps into an existing framework which explains its increasing popularity amongst businesses needing effective digital transformations.

Explicitly addressing the pressing needs of businesses in Singapore, V-MORE has also partnered with agencies like InfinaCo. to assist and guide business owners on how to best implement its digital solutions and strategies on her platform for positive results.

While the fight with the virus carries on, businesses are also uniting to help one another overcome the challenges with digital solutions and thrive in the new norm.

Contact Info:
Name: Bay Dong Hong
Email: Send Email
Organization: Infina Company Private Limited

Release ID: 88962548