Singapore’s online retail sales figure in February was 3.9 per cent of its overall retail sales figure of $110 million compared to 4.1 per cent in the previous month, according to the Singapore Department of Statistics, which has started publishing the proportion of its retail sales transacted online. An online sale was counted irrespective of digital payment.

Asian central banks and statistics agencies have been hiring data professionals to analyse the impact of consumers’ shopping habits on inflation, according to a report by a global news wire.

Governments across the region are struggling to measure the impact of digital sales on their economies and the probable need for tax policy changes, the report said.

According to BMI Research, online shopping is likely to explode in the six biggest economies in Southeast Asia to $64.8 billion in 2021 from $37.7 billion last year. (DS)

Fibre2Fashion News Desk – India

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