Singapore

The Big Read: Live streaming, gamification spur rise of ‘retailtainment’ amid e-commerce’s pandemic boom


While Mr Tng considers Theo10 to have pivoted to online retail efficiently, with the majority of its gross sales going down online, it didn’t come simple.

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From deciding which is the best platform to go on, studying easy methods to design and market their product listings in a fashion that stands out from the competitors, to coping with issues arising from supply, it was problem after problem that Mr Tng and his staff needed to overcome.

A spokesperson from the Singapore Retail Association stated many new adopters weren’t fairly prepared for the digital pivot although they noticed the necessity to and it has been a pricey experience for a lot of retailers, even till at the moment. 

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Despite the challenges, retailers know that clinging to the established order just isn’t an choice.

But the steep studying curve and excessive prices to actually give you a web based arm that segue seamlessly into the offline half of the enterprise have caught some retailers off-guard.

Prof Tuli stated you will need to not assume of digitalisation in binary phrases.

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”We are inclined to assume that it’s both you digitalise otherwise you don’t. That’s not the case … It is a continuum… It doesn’t imply you begin changing into like Amazon,” he stated.

Even the complexity of reside stream commerce can differ amongst totally different retailers, stated Prof Tuli. A retailer can select a more bare-bones method the place the medium is used simply to speak in regards to the product and viewers are then requested to move to the net or bodily retailer to purchase it.

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This can be at a a lot decrease value than in contrast with reside streams that combine fee options which permit clients to purchase on the spot.

How a lot retailers ought to digitalise actually depends upon their merchandise and enterprise mannequin. It wouldn’t make sense for a mom-and-pop store underneath a public housing block with solely two employees to open an e-commerce platform, stated Mr Ivan Zhou from Techsun.

However, they will take child steps. For instance, beginning a click-and-collect service, or organising a WhatsApp group with different dwellers within the housing property and interesting with them by informing them of promotions, he stated.

Digitalisation, whereas vital, shouldn’t be seen as a silver bullet that may clear up all the issues for retailers, stated Prof Tuli. 

Ultimately, having distinctive merchandise and good customer support remains to be key, famous Prof Tuli.

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And as retailers right here proceed to innovate via the digital channel of their alternative, more attention-grabbing merchandise could also be transacted within the digital area within the close to future.

Already, Pornsak stated {that a} regulation agency has approached Mdada to promote legacy planning via its reside stream classes.

While this isn’t even near the rocket launch service bought throughout a reside streaming session in China final yr, it could be a harbinger of issues to come back right here.

For more information like this, go to todayonline.com.


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