E-comm sector to contribute significantly to economy during COVID-19 pandemic: CUTS International

The e-commerce sector can contribute significantly to the country's economy during the COVID-19 pandemic, research firm CUTS International said on Friday.

"Many lockdowns implemented across the world have required consumers to explore online purchasing options. This clearly indicates that e-commerce has an opportunity to grow as well as expand its attractiveness in countries that have yet to jump on the e-commerce bandwagon," it said in a statement.

It added that e-commerce can support the implementation of social distancing measures due to the limited amount of physical contact involved in this activity.

Further, it said that the United Nations Industrial Development Organization (UNIDO) and CUTS International have signed an agreement to empower consumers.

The coronavirus pandemic has disrupted and impacted the daily lives of people and hampered economic activities in many countries across the world, it said adding that the continuing spread of the virus requires global stakeholders to collaborate, support each other and find innovative solutions together.

"CUTS has expressed strong interest in supporting UNIDO in promoting e-commerce as a platform to accelerate member states' transition to the digital economy and adapt to the fourth industrial revolution," it added.