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Online grocery buying is the fastest-growing slice of the pie, with Alibaba-backed RedMart dominating the scene and NTUC FairPrice persevering with to invest in online platforms. The outlook for Singapore’s retail trade was bleak even earlier than the coronavirus crisis went into excessive gear. Singapore’s retail gross sales dropped by 5.three per cent year-on-year in January 2020, the twelfth straight month of fall. In recent years, more and more firms have relied on automated expertise to ensure their prices are properly set. Expect automated pricing tech to become much more commonplace, serving to retailers cut back the quantity of labor required by their employees. “Local and small retailers are particularly nicely suited to those kinds of customized experiences and are leading the charge in the class,” Gabor said.
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