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COVID-19: A turning point for RETAILERS
Due to the COVID-19 pandemic, many brick-and-mortar retailers and restaurants were placed under lockdown, as local governments enforce quarantine measures and restrict outdoor trips. As consumers fear being infected, they are also turning to online channels to get their necessities. It is predictable that the longer the crisis, the greater the likelihood of consumers gravitating towards online purchasing. This not only puts a strain on multiple industries, but multinationals out of and doing business in China are feeling the effects as well, as China’s status as the epicentre of major supply chains is causing significant changes to businesses and consumer behaviour.
The growth of China’s e-commerce
With China dominating the cyber space with over 854 million internet users (more than 60 per cent of China’s total population as of December 2019), retailers need to establish an online presence to stay ahead of the competition and survive during this unprecedented time.
Why start your business online?
- Cost and time saving as the setup is simple and does not need a physical store
- Remain open 24/7, 365 days
- Business continuity to deflect COVID-19’s impact
- Low risks and high efficiency
Are you missing out on global sales?
With China’s rising internet population, many foreign companies are leveraging e-commerce to enter the massive market. From brand protection, regulation and compliance advisory to e-commerce solutions, we help foreign investors start their online retail business easily and quickly.
Please contact us should you like to gain deeper insights into setting up your online retail business in China.
Yang Li Lian
Partner & Industry Lead, F&B, Retail and Consumer Products Practice
T+65 6594 7897
[email protected]
David Eu
Partner & Deputy Industry Lead, F&B, Retail and Consumer Products Practice
T+65 6715 1338
[email protected]