SINGAPORE - The Covid-19 pandemic has accelerated the growth of e-commerce, and firms that operate in this space have reaped the benefits.

E-commerce company SCI Ecommerce recorded a compound annual growth rate of 320 per cent, allowing it to take second place in the league table of the fastest growing firms here compiled by The Straits Times and data company Statista.

SCI Ecommerce chief executive Joseph Liu observed: "As lockdowns became the new normal, businesses and consumers increasingly went digital, providing and purchasing more goods and services online, and raising e-commerce's share of global retail trade from 14 per cent in 2019 to about 17 per cent in 2020.

"We have seen strong uptake of e-commerce across regions, with consumers in emerging economies making the greatest shift to online shopping."

The firm was founded in Singapore in 2011. It now has about 200 staff based in South-east Asia and China.

Its goal is to help brands reach consumers through e-commerce channels, and also to provide consumers with a wider variety of goods to choose from.

Mr Liu said: "We sit in the middle, between the brands on top and consumer-facing apps on the bottom. Brands and consumer-facing apps will constantly evolve, but our goal is to be the one constant over time."

The company aims to reach its next stage of growth by continuing to deepen relationships with brands and merchants by providing the best services and technology.

Mr Liu said: "We will also further strengthen our digital and technology capabilities through continuous research and development, and expand into new categories, as well as deepen our presence in South-east Asia and beyond."

He is also aware that his firm is in a highly competitive space, where companies can quickly become obsolete.

"Having a growth mindset and a sincere heart to embrace the changes is critical and pivotal in keeping a leading position in the e-commerce industry," he said.

"Always focus on your service and make 'customers first' a part of your culture."