yStats.com report projects continued expansion of online retail in Singapore
Germany-based business research organization yStats.com has published a report, "Singapore B2C E-Commerce Market 2019" detailing the ongoing rise of online retail in the island nation.
By: yStats.com GmbH
Singapore's internet connectivity facilitates online shopping.
Even though Singapore has a much smaller population that most of its neighbors in the Southeast Asia region, its developed infrastructure and comparatively wealthy residents who engage in online shopping move the nation to the fifth spot in B2C E-Commerce sales ranking. A 2018 survey cited in the new yStats.com publication reflected that better than eight out of ten web-connected Singaporeans shopped and bought online.
Online shopping in Singapore enhanced by mobile and cross-border purchasing trends.
As might be expected for a small wealthy nation, a high percentage of online shopping in Singapore is done beyond the island's borders. The yStats.com report points to Singapore as having one of the highest cross-border shopping rates in Asia last year. Another trend affecting B2C E-Commerce in Singapore is mobile shopping. Around three-fourths of internet connectivity in 2018 was through mobile device. Another developing trend is social media shopping.
Singapore is served by local and global E-Commerce merchants.
The top three most-visited online shopping websites in Singapore, Qoo10, Lazada, and Shopee, are all based in the country. Qoo10 garnered almost a third of the retail commerce market and recently launched a new marketplace site, allowing smaller merchants to compete for online shoppers. Other popular shopping sites in a survey done early this year referenced in the yStats.com report include StrawberryNet, EZBuy, Zalora, eBay, and Amazon.
For further information, see: https://www.ystats.com/
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yStats.com Press Team