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Follow on Google News | Singapore Likely to Concede Its Rank as the Leading B2c E-commerce Market in Southeast Asia“Singapore B2C E-Commerce Market 2015” is the title of a new publication by German secondary market research company yStats.com.
The online retail market in Singapore is considered to be relatively advanced, with online shopper penetration of over 50% of Internet users and the online share of total retail being the highest in its sub-region. While more vastly populated neighbors only start to develop B2C E-Commerce capabilities and thus are likely to see rapid growth rates in the next few years, Singapore is projected to lose its leading position in B2C E-Commerce sales volume to other countries in Southeast Asia, such as Indonesia. Some important online retail trends in Singapore include cross-border online shopping and the evolution of omnichannel retail. Around two thirds of online shoppers in Singapore made cross-border purchases at least once per year, as of early 2015. Foreign merchants such as Amazon.com, eBay.com and Alibaba Group’s marketplaces are among the most visited E-Commerce websites in Singapore. Omnichannel retail is also gaining importance, as consumers increasingly use mobile devices to shop, research products online and buy them in-store or do it the other way around. The latter trend encouraged Singapore-based online clothing retailer Zalora to open a pop-up store in October 2014. Other prominent players include Giosis, which operates online marketplace Qoo10, the most popular online shopping destination in Singapore, as of July 2015. Giosis raised a multi-million dollar investment in the summer of 2015 and so did online grocery retailer RedMart. Meanwhile, Singapore Post received investment from Alibaba Group and continued to expand its E-Commerce capabilities. Press Contact: yStats.com GmbH & Co. KG Behringstrasse 28a, D-22765 Hamburg Phone: +49 (0)40 - 39 90 68 50 Fax: +49 (0)40 - 39 90 68 51 E-Mail: press@ystats.com End
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