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Brick-and-mortar shops will continue to dominate the retail scene despite the surge of e-commerce trade here, a report by RHB Research revealed.
“We think the e-commerce business is unlikely to impact retailers to a large extent. Based on Euromonitor’s 2015 data, non-store retailing made up a mere 6.2 percent of the overall retail market in Singapore,” said RHB. “Given its small scale at the moment, we think it is unlikely for the e-commerce sector to make a dent on the brick-and-mortar stores domestically.”
“If non-store retailing growth rates were to double Euromonitor’s assumption every year, brick-and-mortar stores would still dominate at least 88% of the market share, even after five years,” the research noted. “This suggests that the e-commerce business is unlikely to result in any big changes within the domestic retail scene,” the report added.
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