Travelite Holdings Ltd. Faces Revenue Decline Amid E-commerce Challenges
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Travelite Holdings Ltd. has reported a 16.6% revenue decline due to e-commerce challenges and reduced consumer spending. Despite efforts to enhance its digital strategy and improve online traffic, the company faces competitive pressures in Singapore's e-commerce market, where consumers prefer overseas platforms. Travelite is focusing on collaborations with e-commerce platforms and social media engagement to adapt to changing consumer behavior. The company acknowledges the difficulties in transitioning to an online-first model amid market saturation and temporary store closures.
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