E-commerce taking over retail is still an ongoing debate but considering the current health crisis that is continuing to happen right now, people will agree that online will be the go-to platform for shopping consumers today. But do you think brick-and-mortar stores can still go back to its glory days and be the KING of the retail industry?
Find out by tuning in to the Philippine Retailers Association’s (PRA) Let’s Talk Retail podcast as Mckinsey and Company’s Associate Partner Sarabjit Singh shares exclusive and dynamic insights on the status of e-commerce in the Southeast Asia, the role of the emerging markets that is going to play in the future of e-commerce, notable transformational changes in retail and how e-commerce will alter the retail ecosystem moving forward.
In his interview, Sarabjit cited that e-commerce penetration in the region has grown from just about 1 to 2% of the retail sector in 2016 to more than 10% today and in some markets like Indonesia, it has even reached 20%.
“What’s really given this growth inflection or big jump in e-commerce is supply because so many players enter the market in this period and all of them are vying for customer mindshare” Sarabjit said.
Catch this data-backed interview of Sarabjit Singh on September 16 at 10 am on PRA’s Youtube channel. Subscribe now and hit the bell button to be notified first!