8 Popular eCommerce Sites in Singapore
Ecommerce is expected to be a huge success in Singapore. Although it is a small market, it has an amazingly stable economy, a high internet penetration rate, and situated right in many developing economies. Southeast Asia is experiencing a boom in eCommerce, and startups have taken advantage of this trend, even as they continue to dominate their home market.
Here are some of the most popular e-commerce sites in Singapore today, some of which have crossed state and national borders, while others started in other parts of the world.
Of course, the list does not constitute a comprehensive list but instead demonstrates how Singaporeans are mainly devoted to certain types of eCommerce.
One of the most prominent eCommerce players in Singapore, Qoo10 features a wide variety of items ranging from electronics to pet supplies. Many of its goods are on regular promotions and discount for their customers to keep them coming back. There aren’t many pretty things on this website, but the sheer volume of goods on offer makes this one of the most popular websites in the island city.
This Singaporean startup occupies a significant percentage of the market. Selling it on Carousell in Singapore is like selling it on eBay in the US. The mobile-first, consumer to the consumer marketplace makes selling, buying, and listing easy and straightforward.
Indonesia, Malaysia, Taiwan, and China have been its main markets in the past few years. Its series A in November 2014 was worth US$6 million, attracting investors like 500 Startups, Rakuten Ventures, Sequoia Capital, Darius Cheung, and Golden Gate Ventures.
Southeast Asia is home to Lazada, one of the biggest e-commerce firms in the world. Among the items available on this site are electronics, fashion, and appliances. Even wines and spirits are available there! With offices worldwide, the company has raised a staggering US$686 million in total disclosed funding to date.
The “shopper on the street” is more likely to recognize Zalora than Carousell. A fashion e-commerce site launched in the Asia Pacific three years ago has spread to over 20 markets, and it has announced funding of $238 million so far. You can shop on the company’s website or through its mobile app.
They launched an independent marketplace last year to enable the selling of products on the platform. In addition to that, there is a content blog offering beauty, lifestyle, fashion and tips on Zalora.
This is, unsurprisingly, one of the best-known C2C eCommerce sites in Singapore. Online buyers have access to a global market of sellers, and the site has been around for the past two decades.
Though incumbents like Honestbee and supermarket chains are beginning to step up their game, Redmart is trying to establish itself as the number one option for acquiring groceries online. The company is currently available in Singapore and Hong Kong and is preparing to expand into Indonesia, where local grocery delivery startup HappyFresh will likely face competition.
7. Rakuten Singapore
Rakuten is eBay’s long-lost sibling from abroad if eBay is the king of eCommerce. This online store follows a similar model to that of Amazon, showcasing a broad range of items, including electronics, clothing, and car accessories.
This giant eCommerce company has spread worldwide through aggressive acquisitions and raising funds. They’re not slowing down either, having just announced earlier this year they would need to raise US$1.5 billion to sustain further investments.
Unlike most e-commerce sites, Shopback isn’t an e-commerce site itself but rather an e-commerce-like service. Users get money back on every purchase with its reward program that aggregates deals from places such as Zalora, Redmart, Taobao, etc. The startup in Singapore launched in 2014, obtaining funding in March 2015 from Accel-X and East Ventures.
Initially, a frontier for large corporations such as Amazon, eCommerce in Singapore has expanded to include small businesses and individuals. There is no doubt that you want to choose a platform that gives you the best results and attracts many buyers, like the ones mentioned above.
With the support and grants the government offers to SMEs, the Singaporean e-commerce industry continues to grow, and it will only get better as time passes. To continue generating sales and reigning supreme in this lucrative industry, be sure to monitor online trends and apply the best online marketing strategies.
If you choose the right digital marketing campaign, you can convert the viewers into clients who will return. Ensure that you advertise your products on other platforms to increase your visibility.
Singapore will undoubtedly continue to take the lead when it comes to e-commerce. Thanks to its mature economy and highly technical population, pushed by good internet connectivity and strategic location right next to many developing economies.
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