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. The report points to M-Commerce along with shopping outside of Singapore as drivers of the continued growth.
Even though Singapore has a much smaller population than 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/wp-content/uploads/2019/08/2019.08.06_Product-Brochure-Order-Form_Singapore-B2C-E-Commerce-Market-2019.pdf
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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world’s leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.
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