A year since Mr K. W. Toh decided to set up online stores on Carousell and Lazada after the closure of his Sim Lim Square outlet, the director of audiophile equipment seller Alpha Audio has repeatedly heard this question about his online prices: "Why should I buy from you when Amazon has it for cheaper?"

The prices at his store have not changed much, despite competitive pressures from other e-sellers. "The margins are already so tight and we have two more physical stores to upkeep, so we cannot lower prices any further unless there is no choice," he said.