To seize future opportunities, companies that are selling online need to build on infrastructure that support their businesses, said James Root, senior partner and chairman at Bain Futures, a global think tank of consulting firm Bain & Company. E-commerce platforms need two pieces of infrastructure: They need great digital payment. The second thing is that they need great supply chain, he told CNBC. And that s both to manage cross-border products coming into a market like Singapore, having swift customs clearance and easy paper processing for that. In-market capabilities that are appropriate are also needed, Root said. For example, parcel delivery spots that are near the big blocks of housing, and very good last mile transportation to get products into the hands of consumers at the sorts of speeds that we re educating our consumers to start to expect now, he elaborated.
Retailers face the challenge of last-mile delivery as online shopping grows CNBC 5 hrs ago Sumathi Bala
To seize future opportunities, e-commerce companies need to build on infrastructure that support their businesses, said James Root, senior partner and chairman at Bain Futures.
When Singapore imposed a circuit breaker or partial lockdown at the peak of the Covid-19 crisis last year, it laid bare the delivery and logistical challenges that e-commerce companies face. Ultimately, convenience is king, Vaughan Ryan from NielsenIQ. It s the convenience of shopping when I want where I want. And it s 24/7.
Online businesses grapple with logistical and delivery challenges
As the pandemic upends businesses, more Singapore firms turn to selling online CNBC 5 hrs ago Sumathi Bala
Singapore companies are increasingly going digital to deal with the disruption Covid-19 has brought to their brick-and-mortar businesses.
Even small and medium sized companies, which were previously less inclined to operate online, had to rethink their strategies when the pandemic hit. Pre-Covid, there could have been a little bit of hesitancy, in adopting some of these e-commerce strategies. They will say, no, it takes up too much time. It requires a lot of resources, a lot of investments, said Selena Ling, chief economist at OCBC bank.
On April 20, former Minneapolis police officer Derek Chauvin was found guilty of second-degree unintentional murder and two other counts related to the May 2020 killing of George Floyd an incident captured in a horrific video that sparked weeks of Black Lives Matter protests across the country, including in Denver.
Following the verdict, numerous prominent Coloradans released statements, including Governor Jared Polis, Mayor Michael Hancock and Denver Police Chief Paul Pazen. One of the most striking takes came from attorney Mari Newman, speaking on behalf of Elijah McClain, an innocent, unarmed 23-year-old Black man who died in August 2019 following what she s characterized as a prolonged and torturous interaction with members of the Aurora Police Department. In her remarks, Newman essentially accused Aurora of shirking responsibility for a crime on par with Chauvin s by protecting the officers whose actions resulted in McClain s death.
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