Low Yen Ling on support for local businesses on e-commerce platforms
The proportion of online retail sales has increased over the past few years from about 5.8 per cent in 2019 to about 13.1 per cent in 2022. The Ministry of Trade and Industry does not track the expenditure made by Singapore residents on overseas e-commerce platforms. Minister of State for Trade and Industry Low Yen Ling, who gave this update in reply to an MP's questions in Parliament on Tuesday (Feb 14), pointed out that with the shift to online retail, Singapore's enterprises can leverage e-commerce platforms to access new customers locally and overseas. She highlighted the initiatives to help businesses adapt and compete. She stressed the need for businesses to differentiate their products and position themselves to serve customers better. She said the Government will continue to work with enterprises to adapt and innovate for greater e-commerce potential.
*Audio issues inherent from source
The proportion of online retail sales has increased over the past few years from about 5.8 per cent in 2019 to about 13.1 per cent in 2022. The Ministry of Trade and Industry does not track the expenditure made by Singapore residents on overseas e-commerce platforms. Minister of State for Trade and Industry Low Yen Ling, who gave this update in reply to an MP's questions in Parliament on Tuesday (Feb 14), pointed out that with the shift to online retail, Singapore's enterprises can leverage e-commerce platforms to access new customers locally and overseas. She highlighted the initiatives to help businesses adapt and compete. She stressed the need for businesses to differentiate their products and position themselves to serve customers better. She said the Government will continue to work with enterprises to adapt and innovate for greater e-commerce potential.
*Audio issues inherent from source
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