Dhruv Vohra, director of digital natives and technology at Facebook, called pandemic-related safe-distancing measures in the region “a catalyst that brought more consumers online”.: “Even with the easing of physical restrictions, we believe that these contactless and home-consumption habits are here to stay. For example, we’ve seen the majority of recent first-time online purchases have been in grocery and food delivery in the past three months.
It suggested that Internet and technology firms could look to tap some US$8.7 billion in South-east Asian-based venture capital and private equity funds’ unspent finance. “The number of South-east Asian digital consumers has grown exponentially and their consumption habits are shaping today’s new norm.”
The study also found that customers in the region are fickle about brand loyalty, with about half of respondents having changed their most-purchased brand in the last three months.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TradeGecko sale validates exit potential of similar Asean startupsTHE sale of Singapore startup TradeGecko to Intuit Inc validates the exit potential of South-east Asia's Software-as-a-Service (SaaS) startups, showing that there is substance to the hype, venture investors tell The Business Times. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Disney takes US$5 billion hit but pandemic impact not as bad as fearedWalt Disney Co on Tuesday avoided the unmitigated disaster some investors feared as it eked out an adjusted profit amid the coronavirus pandemic ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
AIG's pandemic losses hit US$730 million for first half of 2020: CEOInsurer American International Group Inc racked up US$730 million in COVID-19-related losses during the first half of the year, its chief ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US coronavirus fraud losses near US$100 million as COVID-19 scams doubleLOS ANGELES: US losses from coronavirus-related fraud and identity theft have reached nearly US$100 million since the pandemic emerged in March, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan short of rescue plans for regional lenders hit by pandemicThe coronavirus pandemic is deepening the pain for Japan's regional lenders, heightening concerns that a potential wave of business closures will ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
BMW plunges to second-quarter EBIT loss as coronavirus pandemic hits car salesBMW said it expected an operating profit for the full year even as coronavirus lockdowns pushed the carmaker to a second-quarter operating loss ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »