The rush to e-commerce and flight to digital in South East Asia prior to and during the pandemic is widely discussed and shown with 40 million new users joining the online economy in 2020 alone (according to Bain & Company SEA 2020 Report).
In Singapore, this shift to online was particularly noticeable among a specific segment of the population. A recent survey conducted by Visa shows that 36% of seniors in Singapore are now shopping online and using online payments, compare to 25% in previous years.
Seniors are now using e-commerce to purchase a variety of essential items including clothing (69%), food and groceries (68%), or household and cleaning products (63%). In addition, the survey is citing mobile contactless payments (56%), contactless card payments (90%), and QR Code payments (67%) as the seniors’ favorite payment methods.
As seen in the table above, RedMart, Lazada’s grocery delivery service, was leading the best-selling charts on BrandIQ Marketplace Top 10 list for several weeks. RedMart is a consistent Top 10 brand in BrandIQ weekly reports and the only marketplace groceries delivery brand to reach the top 10 in the region, specifically in Singapore (data courtesy of BrandIQ.asia).
The trend was driven by necessity caused by COVID-19, online shopping has enabled a safer and more convenient option and gained the trust of this segment of the population.
Read more: https://www.digitalnewsasia.com/digital-economy/digital-payments-online-shopping-rising-trend-singapore-seniors-visa