E-commerce will never replace stationary stores

Over the past few months, Singapore has seen the biggest online shopping frenzy – online sales, Black Fridays and the recently concluded 12/12 Online Rush. Websites like Zalora, Taobao, Rakuten, ASOS and many others are probably also busy preparing for their holiday sales right now.

Just at a time when more and more people are shopping online, the current CEO of TANGS Singapore, Mr. Tang Wee Sung, is confident that the physical retail space will continue to play its role in this internet-connected generation.

Mr. Tang Wee Sung and Grace Ban. Photo credit: SG Tatler

In the Channel NewsAsia report, Mr. Tang acknowledges the growth of the e-commerce space and that TANGS is also “struggling with the challenges posed by e-commerce.”

“Singapore customers, that is, people living in Singapore, only spend about 10 percent of their purchases on e-commerce, and the reason is that I believe that we are a small country, shopping is very accessible, so there is no need for e-commerce. I will say this: e-commerce will never replace stationary stores. It’s a different way of shopping, like before e-commerce there was a catalog. So e-commerce and brick-and-mortar stores will always coexist,” Tang said, according to the same report by Channel News Asia.

Read also: (INFOGRAPHIC) Online shopping statistics in Singapore

TANGS Singapore (Image source: Wikipedia)

For those unfamiliar with TANGS, TANGS was the first retailer along the Orchard Road shopping strip back in the 1950s. TANGS is the oldest department store in Singapore, founded by Tang Choon Keng, popularly known as CK Tang, in 1932. The vibrancy of Orchard Road today is often attributed to the early presence of TANGS.

The Visa Consumer Payment Attitudes Study 2014 found that 50% of Singaporeans would do all their shopping online if possible, the highest in the region.

Singaporeans, do you only spend about 10 percent of your purchases on e-commerce?

Also read: Singaporeans’ crazy shopping habits have made them the No. 1 online shopper in Southeast Asia

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