Singapore''s Feb online retail sales figure 3.9% of total
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)
Source: The Economic Times, India Saturday, 21 April 2018