As e-commerce marketplaces reach a substantial scale and reach in Singapore, some brands have entered into partnerships with e-commerce marketplace platforms such as Lazada, Shopee and Qoo10. It’s likely that both Lazada and Shopee account for a meaningful share of Singapore’s online grocery market, but it’s unclear what share groceries contribute to either platform’s overall revenues. Almost 5 million people in Singapore use the internet today – 85 percent of the total population – and GlobalWebIndex reports than almost three-quarters of users between the ages of 16 and 64 already shop online. Looking for more data on Singapore? 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. The company’s global / US app places eighth in App Annie’s rankings, while its local, grocery-focused Amazon Prime Now app comes in ninth. Singapore may be small, but it is home to the region’s e-commerce leaders and enablers such as Lazada, Shopee, Qoo10, and fashion-specific marketplace Zalora. The average annual e-commerce revenue per person is $1,037, up 31%. Singaporean corporate tax is affordable and maxes out at 17%. What products are selling best over the internet? GIF Credit: GIPHY. You can explore the country’s broader digital landscape in our complete Digital 2019 Singapore report below, but read on for a closer look at all the latest ecommerce data and insights. Access new updated reports and statistics for the E-Commerce Industry in Singapore. The "Singapore B2C E-Commerce Market 2019" report has been added to ResearchAndMarkets.com's offering. However, the real question for you, the Singaporean Entrepreneur is – How much money do you need to get started? Euromonitor International is the … 1. The top three most-visited online shopping websites in Singapore, Qoo10, Lazada, and Shopee, are all based in the country. The majority of Singaporeans are already connected to the internet. Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections. Singapore’s online shoppers seem to prefer different platforms depending on which devices they’re using. Purchase the Mobile E-Commerce in Singapore country report as part of our mobile internet retailing market research for March 2020. Data from Statista show that Singaporeans spent a total of almost US$8 billion online in 2018, equating to a per-capita spend across the country’s total population of more than US$1,300 – almost four times greater than the global average. Ecommerce Activities in Singapore September 2019 DataReportal. eCommerce Solutions. Singapore. Today, Singapore is still a tech infrastructure leader and has been ranked 2 nd globally in the Smart Cities Index, behind only Copenhagen. With online grocery retail growing so quickly in Singapore, it’s worth taking a look at the key players in the market. Ultra-fast internet and a young population drive sales . Increasingly, previously e-commerce dominant players are also taking an omnichannel approach to maintain their growth. Internet Users in Select Countries in Southeast Asia Who Have Made a Digital Purchase, Dec 2015. The Sea-backed e-commerce platform, Shopee, saw one of the highest growth rates among e-commerce companies in 2019. The country’s ecommerce users are slightly more likely to use their mobiles than their computers for online shopping, so let’s start with a look at App Annie’s ranking of the country’s most popular mobile shopping apps. In 2017, total revenue was 859.4, 951.1, 543.4, 618.2 and 520 million US dollars in the sector of fashion, electronics and media, toys, hobby and DIY, furniture & … We support global and regional brands on their eCommerce journey – so jump on the eCommerce bandwagon with us. The report expects GMV of SEA’s e-commerce sales to reach US$88.1 billion in 2025. We benchmark the customer experience of three e-commerce stores in Singapore. Average annual revenue per user of consumer goods E-commerce (Arpu): $1,037 with +31% year on year change. 15 The Singaporean business to consumer e-commerce market is worth $4.9 billion, 16 and is expected to grow at a compound annual growth rate of 8.35 percent to 2021. This may be one of the reasons why leading grocery player Honestbee continues to face challenges, and why Amazon’s Prime Now service hasn’t gained the momentum that many observers predicted before the US giant’s arrival in Singapore. Statista reports that online purchases of food and personal care products in Singapore shot up by 47 percent in 2018, more than three times faster than the global average growth of 15 percent. With 630 million people, a growing middle class and rising internet penetration, SEA is often considered to be the next gold rush for e-commerce. The e-commerce market size for Singapore’s closest neighbour, Malaysia, stands at just US$3.75 billion. Annual Growth in Online Grocery Spend by Country January 2019 DataReportal. However, you may find calculating tax for e-commerce businesses a bit complex. WooCommerce . The SEA-backed e-commerce platform was probably the most successful in acquiring new consumers as Shopee was the most downloaded mobile e-commerce shopping application in Singapore in Q2 2019. Enabled by infrastructure, there are an estimated 4 million e-commerce users in Singapore with average revenue from each user estimated at US$1,001. Thank you! Though generalist … Total Retail and Retail Ecommerce* Sales in Singapore, 2015-2020 (billions, % change and % of total retail sales) Retail Ecommerce. Income accrued in or derived from Singapore, or received in Singapore from outside of Singapore is taxed. This is a 9.1% CAGR from 2020’s expected value of US$ 2.7 billion. Mobile applications today play a vital role in the development of e-commerce. If you're in the Internet Retailing industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions. Lazada comes in at second place in SimilarWeb’s rankings, with the company’s Singapore-specific site attracting an average of more than 7.6 million visits per month. It’s not just Statista’s data that point to a rosy future, either. Local social commerce platform Carousell ranks fourth in SimilarWeb’s analysis, accounting for roughly one-third of the platform’s total global traffic. Gain competitive intelligence about market leaders, Track key industry trends, opportunities and threats, Inform your marketing, brand, strategy and market development, sales and supply functions. Consumer goods account for the largest share of Singaporeans’ online purchases. The order in which Amazon’s apps rank is particularly noteworthy, as we explored in more detail in a previous article in this series. Amongst the more ‘traditional’ grocery retailers, Fairprice tops SimilarWeb’s ranking of online success as measured by website traffic. Despite Singapore being home to the region’s two largest ecommerce players – Lazada and Shopee – it’s global giant Amazon that tops the list of sites attracting the greatest volume of web traffic in the city state. E-commerce revenues in Singapore have more than doubled, growing from US$22.03 billion in 1999 to $51.1 billion in 2000, according to a report released Wednesday by the Infocomm Development Authority of Singapore (IDA) and Department of Statistics. 40 The Glimpsing the Road Ahead: Reshaping the Logistics Market report, citing a study by the payments technology company WorldPay, said the e-commerce market in Singapore … The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries. Shopee app has been one of the top-ranked shopping apps in both App Store and PlayStore, indicating the popularity of the app in Singapore. Consumer goods account for the largest share of Singaporeans’ online purchases. According to Statista Portal, Singapore’s eCommerce revenue will amount to $4.99 billion by the end 2019, and is expected to show annual growth rate (CAGR 2019-2023) of 14.7%, resulting in a market volume of $8.64 billion by 2023. The latter is worthy of particular note, because Singapore’s online grocery market is growing faster than that of any other country in the world. Overall, online spending in Singapore grew by 21 percent in 2018, although growth varied meaningfully across different sectors of the country’s online economy. Learn how to design … Microsoft.com, Apple.com, and Samsung.com all make it into Singapore’s top ten transactional websites too, although it’s unclear how many of these sites’ visitors actually go on to buy something directly from each site. GB: 239-2559-40 Registered in England No. Food and personal care products accounted for the smallest share of consumer goods spend, but that situation is likely to change in the coming months, as we’ll explore in more detail below. The country’s consumers spent more than US$4.1 billion on items such as clothing, electronics, groceries, furniture and toys in 2018, equating to 52 percent of total online spend. The estimated monthly traffic from the top 10 e-commerce websites shows the lead of Lazada and Qoo10 over the Singaporean market with about 8 million visitors per month, followed by Carousell at 5 million. The Internet Retailing in Singapore market research report includes: Analysis of key supply-side and demand trends ; Detailed market shares for international and locally-based retailers Discover why Little Nyonya was the top dog. Other players come after, with Shopee leading the pack above 2 million visits per month. PRODUCT PREFERENCE . Request a complimentary demonstration of our award-winning market research today. E-commerce who received more than 100,000 visitors per-month or 100,000 social media followers are qualified for this list. The bricks-and-mortar supermarket chain attracted an average of roughly 1.3 million monthly website visits between May and Jul 2018 – roughly five times more than second-placed rival, Cold Storage. Delivery: Files are delivered directly into your account within a few minutes of purchase. Annual Ecommerce Growth in Singapore by Category January 2019 DataReportal. However, it’s clear from the impressive growth visible in Statista’s data that online grocery is set to grow rapidly in Singapore over the coming years. VAT No. Don’t worry, we hate spam too. Who are the leading retailers in Singapore? Singapore’s mobile shoppers are relatively fashion-forward too, with regional favourite Zalora ranking sixth, and global stalwart ASOS placing tenth. The annual sales value of Singapore’s consumer e-commerce market totals $4.11 billion with a growth rate of 35% YoY. Singapore: Revenue in the eCommerce market is projected to reach US$2,405m in 2020. We have an illustrious and renowned history of designing, developing and implementing more than 1500 e-commerce online stores, employing an impressive variety of e- commerce and web design practices and procedures. Despite its small geographical footprint and a population of just 5.6 million, 14 Singapore is a major e-commerce market in south east Asia. Ultra-fast internet and a young population drive sales . Discover the latest market trends and uncover sources of future market growth for the Internet Retailing industry in Singapore with research from Euromonitor's team of in-country analysts. Published by Statista Research Department, Mar 15, 2016 This statistic shows the e-commerce market value in Singapore from 2014 to 2015, with a forecast from 2016 to 2020. 15 The Singaporean business to consumer e-commerce market is worth $4.9 billion, 16 and is expected to grow at a compound annual growth rate of 8.35 percent to 2021. Singapore e-commerce market is fragmented despite rivals having moved into Singapore years ago. Singapore is served by local and global E-Commerce merchants. In terms of e-commerce, by 2025, Singapore’s e-commerce market is expected to reach US$5.4 billion. In addition, Singapore has a high level of cross-border trade with more than half of Singapore’s online consumers are buying from international merchants. It was a very different story across consumer goods purchases though, with the sector as a whole up by a compelling 35 percent. Singapore’s e-commerce market is huge. E-commerce players such as Qoo10, Lazada and Shopee use gaming elements to incentivise customers to play, offering rewards that can be exchanged with shopping vouchers. run_frictionless contains frameworks to help founders of startups achieve predictable sales, using sale systems. Also note that some of our data providers have recently changed their reporting methodologies, so some of the figures we reference in this article will not be directly comparable to figures published in the report embedded above, especially for internet and social media users. Please click the link in the email we just sent you to confirm that you’d like to receive emails from us, and to activate your subscription. SINGAPORE INSIGHTS REPORT. The revenue in online business industry of Singapore is continuously increasing from 2017 to 2020. Subscribe to our content! They’re separated by Qoo10, another Singapore-based ecommerce platform that has built impressive momentum in the city state. How quickly is internet retailing growing in Singapore? That figure represents the fastest growth of any country in Southeast Asia, despite consumer goods already accounting for more than half of Singapore’s total online spend. 38 Mobile commerce sales are expected to outpace overall e-commerce growth, expanding at a compound annual growth rate of 18.1 percent to 2021, 39 to reach a value of $4 billion. The report points to Singapore as having one of the highest cross-border shopping rates in Asia last year. That’s still considerably faster growth than the 17 to 18 percent growth that eMarketer predicts for the United States over a similar period though, so there are still plenty of reasons for ecommerce players to be optimistic about the future of online grocery in Singapore. Future e-commerce trends from Singapore-based Redmart founder. Within the consumer goods sector, every sub-category saw increases of at least 30 percent, while two categories – Toys, Hobbies & DIY and Food & Personal Care – saw growth in excess of 40 percent. Singapore’s top e-commerce websites compared by estimated traffic. Get the latest trends and understand the impact of the crisis on the market. E-commerce revenues in Singapore have more than doubled, growing from US$22.03 billion in 1999 to $51.1 billion in 2000, according to a report released Wednesday by the Infocomm Development Authority of Singapore (IDA) and Department of Statistics. A 2018 study from IGD Research shows that Singaporeans have embraced online grocery shopping more quickly than their Southeast-Asian neighbours, and the company forecasts that ecommerce will account for roughly 8 percent of Singapore’s total grocery market by 2022. Check out all of our previous country reports by clicking here. Perhaps surprisingly, Shopee only makes an appearance at number nine in SimilarWeb’s website rankings, suggesting that the platform’s shoppers have much greater affinity for its mobile app than its website. It also scored 84.5 out of 100 in the Trade and Procedures Governance measure, the highest amongst 12 countries that were studied. Singaporean ecommerce shoppers spent an average of more than US$1,000 each on online purchases of consumer goods in 2018, significantly ahead of the global average of US$634. © 2020 Euromonitor is privately owned & trademarked. Lazada, for example, announced a partnership with several beauty and make-up brands, such as Bobbi Brown, Sulwhasoo and L’Oréal in 2019. Interested in more insights? In fact, reports suggest that the e-commerce industry in Singapore will be worth S$7.5 billion (US$5.4 billion) by 2025. Top Mobile Shopping Apps in Southeast Asia May 2019 DataReportal. Getting consumers to experience more does not only involve establishing a physical presence, but also creating other experiences online. Gain competitive intelligence about market leaders. Singapore E-Commerce & IT Outsourcing Reports: Our 2020 Singapore report include trends, statistics, opportunities, sales data, market share, segmentation projections on the E-Commerce … Singapore is the only country in Southeast Asia where a local platform does not come out at the top of SimilarWeb’s ranking of leading transactional websites. Reports & Newsletters; Startups Sourcing; Trainings & Workshops; Coaching & Mentoring; Insights; Contact us +33 6 14 82 30 54 +65 9235 4234 ; Select Page. Qoo10 remains the biggest e-commerce player in Singapore, having established its presence before the entrance of other players to the country. This may be partly because Singaporeans are rarely more than a few minutes away from a bricks-and-mortar supermarket or convenience store, meaning that online shopping doesn’t yet offer the same convenience advantage that it might do in countries like the United States. The eCommerce market encompasses the sale of physical goods via … As Singaporean consumers often still prefer to see, touch or feel items before buying, having a physical presence gives consumers the chance to do exactly that, which can result in greater confidence to shop for the products online. (The Global State of Digital in 2019 Report). Singapore and Malaysia generate one- third of total online retail sales in the region, even though they only account for 8% of the region’s population. As we’ve seen throughout this series on ecommerce in Southeast Asia, Lazada and Shopee are both popular choices, placing first and third (respectively) in App Annie’s app rankings. The eCommerce market encompasses the sale of physical goods via … Beyond consumer goods, travel purchases account for 46 percent of Singapore’s online economy, with the country’s total 2018 spend in excess of US$3.6 billion. According to Bain’s report on SE Asia e-commerce in 2016, over 12 platforms serve 90% of the Singapore market. That’s an internet penetration rate of 84%. Singapore’s ecommerce industry is growing quickly too, with total online spend increasing by more than 20 percent last year. E-commerce revenues in Singapore have more than doubled, growing from US$22.03 billion in 1999 to $51.1 billion in 2000, according to a report released Wednesday by … Inform your marketing, brand, strategy and market development, sales and supply functions. Have you ever used WordPress? The Singapore based e commerce industry in Southeast Asia is projected to grow to be worth S$7.5 billion by 2025, more than Hong Kong, ... Plus, you get access to eye-popping data reports that help you to step up and bring your eCommerce online business to the next level. Qoo10 takes third spot in the rankings, although – with roughly 7.4 million website visits per month – the platform is only just behind Lazada. Last year, BMI Research’s study predicted Singapore’s e-commerce sales to reach S$10 billion (US$7.4 billion) in 2020. The following industries were not included in this list: e-ticketing, financial services, rental services, insurance, delivery service, food & beverage, meta-search, couponing, cashback websites and ecommerce who solely provides classified ads/P2P services. Current Market Trends. Statista 3 is expecting Singapore’s eCommerce market value to hit US$ 3.9 billion in 2024. China’s Taobao places fourth, while ezbuy – another Singapore-based platform – takes fifth spot. If you're in the Internet Retailing industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions. IGD Asia takes a less bullish view of annual growth compared to Statista, however, with the company forecasting compound annual growth (CAGR) of 25 percent in Singapore’s online grocery market between 2017 and 2022. page 1 In this case, you will need an expert assistance. Mobile commerce is well-established in Singapore and is creeping towards accounting for half of all online sales: it already makes up 42.3 percent of all completed e-commerce transactions, or $2.1 billion in sales. SINGAPORE INSIGHTS REPORT. 5. The estimated monthly traffic from the top 10 e-commerce websites shows the lead of Lazada and Qoo10 over the Singaporean market with about 8 million visitors per month, followed by Carousell at 5 million. Within the consumer goods sector, Electronics & Physical Media edged out Fashion & Beauty to take the greatest share, but only just. Singapore E-Commerce Reports: Our 2020 Singapore report include trends, statistics, opportunities, sales data, market share, segmentation projections on the E-Commerce market. Chinese ecommerce platforms are making good progress in Singapore too, with both Taobao and AliExpress appearing in the country’s top ten most-visited transactional websites. Digital, Digital 2019, Digital 2019 Ecommerce Spotlight Southeast Asia, Analysis, Specialist, Ecommerce, Simon Kemp, Sarah Moey, Southeastern Asia, Digital, Digital 2019, Digital 2019 Ecommerce Spotlight Southeast Asia, Ecommerce, Southeastern Asia, Simon Kemp, Sarah Moey, Analysis, Specialist, Top Ecommerce Categories in Southeast Asia, Digital 2019 Ecommerce Spotlight Southeast Asia. Singapore’s top e-commerce websites compared by estimated traffic. Introducing enhanced country reports featuring interactive datagraphics, charts and analysis. Which internet sites are attracting the most sales? According to a report by Google & Temasek, there are more than 350 million internet users in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam).. More importantly, more than 90% of Southeast Asians connects to the internet primarily through mobile devices. Singapore's internet connectivity facilitates online shopping 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 … However, it’s worth noting that Amazon’s local, grocery-focused app, Prime Now, appears in the country’s top ten mobile shopping apps, so the sector is clearly gaining momentum. Another trend affecting B2C E-Commerce in Singapore is mobile shopping. Singapore B2C E-Commerce Market 2019 $ 850 August 2019 Indonesia B2C E-Commerce Market 2019 $ 850 July 2019 Singapore Mobile Retail Shopping Business and Investment Opp… $ … It continues to face competition, however, with players such as Lazada and Shopee continue to aggressively promote their platforms through discounts and vouchers, and at the same time also undertaking various marketing activities, both online and offline, to improve their brand recognition. If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Files are delivered directly into your account within a few minutes of purchase. The "Singapore B2C E-Commerce Market 2019" report has been added to ResearchAndMarkets.com's offering. However, Singaporeans appear to have different preferences when it comes to web-based shopping. Reports by WorldPay say: “The e-commerce market in Singapore is set for huge growth as it is expected to expand by 48% to $9.98b (US$7.4b) by 2022”. Singapore: Revenue in the eCommerce market is projected to reach US$2,405m in 2020. The Internet Retailing in Singapore market research report includes: Our market research reports answer questions such as: This industry report originates from Passport, our Retailing market research database. Singapore E-Commerce is the leading e-commerce web design company in Singapore and surrounding areas. Ecommerce Spend in Singapore by Category January 2019 DataReportal. Purchase the Digital Commerce in Singapore country report as part of our digital commerce market research for May 2020. Track key industry trends, opportunities and threats. However, these numbers suggest that Singapore still has some way to go before online grocery shopping becomes ubiquitous. Ecommerce in Singapore Data from Statista show that Singaporeans spent a total of almost US$8 billion online in 2018, equating to a per-capita spend across the country’s total population of more than US$1,300 – almost four times greater than the global average. For context, more than 3.5 million Singaporeans already shop online, and with most people buying groceries at least once a fortnight (via any channel), the numbers suggest that only a fraction of the country’s ecommerce users have so far embraced regular online grocery shopping. At almost US$5 billion in 2019, Singapore’s e-commerce market size is only second to Indonesia’s US$11 billion. Euromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals. Despite its small geographical footprint and a population of just 5.6 million, 14 Singapore is a major e-commerce market in south east Asia. 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