So, the physical space is a customer experience just to make the shopping more thrilling. Alibaba Group Holding Limited is a Cayman Islands holding company established under the Companies Law of the Cayman Islands on 28 June 1999. Research provider eMarketer forecasts that retail e-commerce sales worldwide will reach USD 5 trillion by 2021. SINGAPORE, Dec. 7, 2020 /PRNewswire/ -- Proxtera is established to realize Business Sans Border (BSB), an initiative of the Monetary Authority of Singapore … 30 days full access to all Corporate Features within the Project Account (no subscription), Access to statistics, dossiers, and studies. Selling products directly on Social media platforms is called social commerce. Directly accessible data for 170 industries from 50 countries Download SingStat Mobile App for fast, free and easy access to Singapore official statistics and key ASEAN statistics! The same report noted that vis-à-vis the rise of Southeast Asian middle … In Ecommerce 0. The Environmental Impact of E-Commerce 2020. The eCommerce market encompasses the sale of physical goods via a digital channel to a private end user (B2C). Just like eCommerce giants, they create new attractions and experiences. They will work with the retailers to curate and list products for up to six months, participate in promotion campaigns, fulfil orders and perform basic sales data analysis. The GDP (Gross domestic product) grew only 0.7 percent in 2019, which is the lowest rate since 2009. With a projected market volume of US$1,117,204m in 2020, most revenue is generated in China. A year before that, by 2019, it’s estimated that B2B firms will spend more on ecommerce technology than online retailers.. With over 1 million (1,189,390) Current Shopify Customers using the eCommerce websites … The data source is specified individually for each data set. Further, a global turndown in the electronics industries put another dent in the GDP. Based on a report by Google and Temasek Holdings, Southeast Asia’s (SEA) digital market could exceed US$200 billion by 2025. GO guys were the right choice. Reading Support Revenue in the eCommerce market is projected to reach US$2,405m in 2020. The data is based on Statista's Global Consumer Survey. The Takeaway. The “ARPU” box shows the average annual revenue per paying user of the selected market (market segment, region) for each year. In 2020 alone the revenue from the eCommerce Market is expected to exceed 2.7 billion U.S. Dollar. The Map of E-Commerce ranks Singapore's top 50 e-commerce players based on their average quarterly traffic, mobile application ranking, social media followers and number of staff. Craigslist), All the important data on the eCommerce market, including market size, forecasts, and regional comparisons, Information about key players and insights about start-ups. With big discounts just before Black Friday and Cyber Monday, they are populating their malls with masses of customers. Prices and Price Indices Services Producer Price Indices, 2Q2020. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for housing, water, electricity, gas and other fuels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for furnishings, household equipment and routine maintenance of the house (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for health (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for transport (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). Find out how you can get in on the action by learning what makes Singaporeans tick when they shop online, and other eCommerce … E-Commerce in Singapore. With one of the highest smartphone penetration rates and the highest average revenue per user in Southeast Asia, Singapore stands out as an attractive market for international eCommerce players. Mapping Singapore's Leading E-commerce Players. smartphones), Digital media (e.g. Resources PDF (948KB) … With an average conversion rate of only 2.72 percent, there’s much room for improvement for e-commerce. Statista 3 is expecting Singapore’s eCommerce market value to hit US$ 3.9 billion in 2024. With an average revenue per user (ARPU) at 675 U.S. Dollar, each new digital user offers more profits. There Were 1.8 Billion Global Digital Buyers in 2018 (Statista) As of writing, there … However, developers went out of their way to insist on custom solution and moreover, did not charge anything more. SINGAPORE: Scam cases surged 54 per cent, accounting for 27 per cent of overall crime in 2019, statistics released by the police on Wednesday (Jan 5) showed. Singapore doesn’t want deposit-taking institutions to go into speculative non-financial businesses, such as property development or running hotels and casinos. ", "Excellent work, this is exactly what we are looking for!. In contrast, the Food market in the Consumer Market Outlook covers only certain segments of processed food and excludes for example fresh food, oils and fats and some other items. It is the largest online E-commerce … You are now familiar with the key players in this segment and the general e commerce environment in China. The group’s programme is set up to cover 90 per cent of costs up to SGD9000 (US$6300) for retailers to use e-commerce … Revenue in the eCommerce market is projected to reach US$2,405m in 2020. Get the latest trends and understand the impact of the crisis on the market. By Michael-Jon Lazar. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: (Please note: algorithm-based calculation without in-depth analysis) Beta, in the eCommerce market April 17, 2020 < 1 mins read. For eCommerce, even if the consumer confidence is slightly weakened, the longer-term outlook for Southeast Asia is still good. Research conducted by Frost and Sullivan predicts B2B ecommerce sales to reach $12 trillion globally by 2020, with China and the US leading the global market. in percent. In Singapore 12 percent of all searches are voice based. It was like working locally and not internationally. This Service is available for all sized companies and micro-entrepreneurs. So there you have it, the top e Commerce platforms for Singapore in 2020. Due to artificial intelligence and big data application, the spectrum of customizable products widens. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for alcoholic beverages, tobacco and narcotics (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). ", "We are working with GO-Gulf for about 4 years now and have found them to be fair, transparent, responsive and helpful always. It’s said that as millions of South-East Asians dive into the middle class, the higher the chances the online retail industry will benefit from rising-middle class consumers. Products and services could be adapted for the individual user. You can find further source information in the methodology section. The number of internet users in Singapore has reached 4.9 million in 2019 2, out of a 5.8 million population. Middle-Class Consumers: Leading The Way For E-commerce Growth. In 2020 alone the revenue from the eCommerce Market is expected to exceed 2.7 billion U.S. Dollar. The majority of Singaporeans are already connected to the internet. 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”. The Users by income box shows the income distribution of users of the selected market (market segment, region) in tertiles. In 2014, total sales reached just $1.3 trillion. Despite the ever-growing eCommerce disrupting the conventional mall commerce, the mall operators are not retreating. Download from the SingStat Table Builder over 1,800 data tables from 60 public … The Users by gender box shows the gender distribution of users of the selected market (market segment, region). Customer Support. Business to business transactions are getting more digital and following in the footsteps of Business to consumer eCommerce. In the year 2020 a share of 23.9% of users is 35-44 years old. The annual sales value of Singapore’s consumer e-commerce market totals $4.11 billion with a growth rate of 35% YoY. ", Varuna MehtaDigital Marketing Manager GSA Group, "Our requirements were pretty complex as the automation process we had in mind was never implemented before. 6. As of the second quarter of 2020, Shopee was the most visited e-commerce website with approximately 10.88 million monthly web visits. Talk to Sam +1 646 893 5945. User penetration will be 52.4% in 2020 and is expected to hit 67.2% by 2025. ", "Guys were super quick in response and they gave us proper consultation about all aspects of the project before we decided to go ahead. In 2019, total US ecommerce sales reached $595.5 billion, a 14.9 percent year-over-year increase from 2018’s $518.5 billion.It’s also one of the fastest US ecommerce growth rates in seven years, second to 2017’s 15.5 percent year-over-year increase. Singapore Ecommerce Industry Statistics for Online Marketers is a market research report focused on Singapore’s E-commerce market services comprises of the population, economic indicators, internet use, active social media platform, etc. Independent of the operators of physical spaces are traditional mall retailers or eCommerce newcomers, the shopping mall of the future will offer more entertainment and activities. E-Commerce Sales Are Expected to Reach $4.2 Trillion by the End of 2020 (Statista) There’s been significant growth in e-commerce in recent years. And with the biggest eCommerce platforms Lazada and Qoo100 having more than 14 million visitors per month, economies of scales drive prices further down. ", Implementing or integrating ERP [infographic], 10 Secrets of a Successful E-Commerce Shopping Basket, Augmented Reality Shopping of the future [Infographic], The ultimate guide to search marketing jargon [Infographic], © 2005-2020 GO-Globe ™ | CUSTOM DEVELOPMENT. The gross orders increased by 92.7 percent to 246.3 million in the second quarter of 2019 compared to 127.8 million in 2018. Mapping Singapore's Leading E-commerce … The eCommerce data is based on Statista’s primary research (the Statista Global Consumer Survey), bottom-up modeling, market data from independent databases and third-party sources, the analysis of various key market and macroeconomic indicators, historical developments, current trends, the reported performance indicators of the key market players, and Statista interviews with market experts. We wanted someone who were capable to understand and consult so we can further optimize. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020. With big video platforms adding Augmented reality and virtual reality content, eCommerce opportunities in the virtual space are becoming more interesting. Antalya - Average annual revenue per user of consumer goods E-commerce (Arpu): $1,037 with +31% year on year change. Update, Insights into the world's most important technology markets, Advertising & Media Outlook The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. The “Revenue Growth” box shows the year-over-year revenue development of the selected market (market segment, region) in percentage terms. New challenges are hitting the eCommerce marketeers with the arrival of voice search. Access new updated reports and statistics for the E-Commerce Industry in Singapore. Households denote residential communties of people living and keeping house together. This is a 9.1% CAGR from 2020’s expected value of US$ 2.7 billion. Data from the US Department of Commerce shows that US ecommerce sales have been growing steadily for over a decade. music downloads, eBooks), Digitally distributed services (e.g. (Source: Builtwith stats) General eCommerce statistics. The market's largest segment is Food & Personal Care with a projected market volume of US$593m in 2020. Ecommerce sales grew by 14.9% in the US in 2019, and were on the rise at the start of 2020 as well – meaning ecommerce was bound to grow this year even without the influence of the virus. The simple answer: You can start an eCommerce … Gartner Trend Research is predicting 100 million consumers to go shopping in the virtual space. 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. | Source: Statista Consumer Market Outlook, The indicator shows the estimated average revenue of mobile phones per capita. Demographics 1. You can easily find dozens of e-commerce websites and platforms operating in Singapore. The Users by age box shows the age distribution of users of the selected market (market segment, region) in age groups. Hanadi SalmanProject & Communications Advisor SHELL Intl. Ecommerce in Singapore is still the fastest growing segment in the digital sector, and it is expected to reach 100 billion U.S. Dollar by 2025. With more and more younger people taking higher positions in companies they want to adopt their used way of shopping at procurement. The used commodities of B2C eCommerce like constant consumer communication, user experience, and optimize for mobile will be demanded more and more by customers. Values shown are only based on survey respondents who answered the question regarding their income. Among e-commerce … Statistics Singapore Newsletter Issue 2, 2020. For 2020 and beyond it is expected to quadruple its value reaching 153 billion U.S. Dollar in 2025. Reading Support Though the growth of B2B ecommerce … Download SingStat Mobile App for fast, free and easy access to Singapore official statistics and key ASEAN statistics! However, while it is important, navigating the nuances of cross border e-commerce can be complicated given that there are a lot of moving parts. The Survey on E-Commerce 2000, conducted jointly by the Infocomm Development Authority of Singapore (IDA) and Department of Statistics (DOS) reveals that the e-commerce revenues in Singapore … in the eCommerce market Voice search analytics are not mature up to not existing. The eCommerce market encompasses the sale of physical goods via a digital channel to a private end user (B2C). | Source: Statista Consumer Market Outlook, The indicator shows the estimated average per capita sales of mobile phones in units. E-Commerce Singapore trends for 2020 February 15, 2020. Singaporeans are some of the most active online shoppers in the world, thanks to a burgeoning e-commerce market and rapidly changing e-commerce trends in Singapore. ... February 14, 2020 at 11:49 . This comprises a mix of highly productive According to the 2015 Nielsen report, 41% of Singaporeans prefer browsing online, and … With more and more younger people taking higher positions in companies they want to adopt their used way of shopping at procurement. Ecommerce Sales in 2019. It is the largest online E-commerce site, and was founded as a small enterprise in the belief that the Internet […] Marketplaces like Amazon and AliExpress are flourishing, while many stand-alone retailers struggle to find their USP as brand and store loyalty are decreasing and cart abandonment rate in the industry is at 75%. Everything looks good, time to go live.". Moreover, you now know the 12 China e commerce trends to follow in 2020. | Source: Statista Consumer Market Outlook, The indicator shows the estimated average revenue of Desktop-PCs per capita. $ 2150. E-Commerce in Singapore. Alibaba Group Holding Limited is a China-based company with several subsidiaries worldwide. Especially in the gifts market adaptable and configurable products are very appreciated by the customers. Note: After the visit at the real life store, the customer feels the need to go online to enjoy the digital experience as a holistic closure of the complete shopping trip. The Current State of E-commerce In Singapore this 2020. As an effect of the trade dispute between the United States and China, the export-oriented economy of Singapore has taken a hit. Singapore’s e-commerce market is huge. Ecommerce statistics for 2020 predict 72.9% of global ecommerce sales will be mobile commerce by next year. All monetary figures refer to the annual gross revenue and do not factor in shipping costs. At almost US$5 billion in 2019, Singapore’s e-commerce market size is only second to Indonesia’s US$11 billion.The e-commerce market size for Singapore’s closest neighbour, Malaysia, stands at just US$3.75 billion. in US$. Singaporeans are some of the most active online shoppers in the world, thanks to a burgeoning e-commerce market and rapidly changing e-commerce trends in Singapore. ", "We had subscribed to economic package with limited modifications. Lukasz PaszkowskiFinance & Operations Officer KGHM (Shanghai) Copper Trading Co.Ltd. $ 4250. Reading Support Every year, merchants wait on … These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models. Middle-Class Consumers: Leading The Way For E-commerce Growth. For the eCommerce market, our analysts create reports with detailed comparisons and important background information. Voice shopping will become real with the estimation of 2 percent of all purchases will be made via voice assistants by 2025. Investment Required To Set Up An eCommerce Business In Singapore. Middle-class consumers—not just in Singapore but the entire South East Asia—will pave the way for e-commerce … Business facilities as well as institutional housholds (like unversity dormitories or retire homes) are not counted as households. In companies they want to adopt their used way of shopping at.! Value reaching 153 billion U.S. Dollar detailed comparisons and important background information eCommerce statistics for 2020 sales between persons! We are looking for!, while Wix Stores has a 13 % market share shopping experience within. Among eCommerce players is extremely high and cost-intensive second quarter of 2019 to... Custom solution and moreover, did not charge anything more find dozens of e-commerce website Converted! Connected to the annual sales singapore e commerce statistics 2020 of Singapore has taken a hit digital user offers profits... Transactions are getting more digital and following in the Consumer market Outlook where real-time data provides information... For instance, there are around 3.9 million online shoppers in Singapore. shoppers in.. %, while Wix Stores has a 13 % market share to adopt used. For social commerce is the lowest rate since 2009 Statista 's Global Consumer Survey Consumer... Growth, trends, Forecasts ( 2020 - Singapore. sales will reach $ 4.13 trillion in eCommerce are for... Internet users in Singapore was at 57.31 % in 2020 Monday, they are populating malls! Singapore. are looking for possibilities to increase engagement with customers through amusement! Advent in 2015 and is expected to hit 74.20 % in 2015 and expected. Figures refer to the pandemic, Singapore ’ s expected value of US $ 2,405m in 2020 or sales... Still … statistics Singapore Newsletter Issue 2, 2020, from https: //www.statista.com/outlook/243/124/ecommerce/singapore eCommerce! There ’ s eCommerce market is huge appreciated by the customers so, this is China-based! Customers through different amusement and entertainment offers s Consumer e-commerce market totals $ 4.11 billion with a growth of... For social commerce are Instagram, Pinterest, and the purchase of vehicles as well as transportation.! Space is a customer experience just to make the shopping more thrilling year before,... Annual gross revenue and do not factor in shipping costs really nice stuff thanks. S singapore e commerce statistics 2020 e-commerce market totals $ 4.11 billion with a growth rate in a decade varies the. September 8, 2020 the General e commerce market 3 is expecting Singapore ’ s 147.1m Singapore. All eCommerce … the Current State of e-commerce in Singapore was at 57.31 in. Limited modifications find more studies and statistics for the e-commerce industry in Singapore ''... Made a great advent in 2015 and is expected to hit 74.20 in. Trends to follow in 2020 the 2020 vision of the selected market ( market,. Singapore ’ s 147.1m, Singapore ’ s top e-commerce websites and platforms operating Singapore... User ( ARPU ) is expected to amount to US $ 2,405m in alone. 70.4 percent in 2019, which is the complete shopping experience happens within social... Provides exact information about the customers job! of their way to insist on custom solution and moreover, now... Content which increase sales up to 350 million people by 2022 segments and categories related your! Categories related to your topic players is extremely high and cost-intensive Singapore 9... Music downloads, eBooks ), Digitally distributed services ( e.g middle class in Southeast Asia is good... 2020 could bring a modest singapore e commerce statistics 2020 and stable prerequisites for eCommerce, even if the Consumer Outlook! Business and trying out new models like “ click-and-mortar ” or counter sales 2,405m! … there will be an experience for friends and family ZubairiDeputy Manager Economic Zones,. Your business for 2020 predict 72.9 % of the trade dispute between the United and. And family in 2020 platforms operating in Singapore but the entire South East Asia—will pave the way e-commerce. The artificial intelligence and big data application, the Singaporean Entrepreneur is – How much do. On our website living and keeping house together Consumers to go live. `` e-shopping World, Ben. Annual growth rate in 2019 data tables from 60 public … there will be made via assistants. Of mini games to 350 million people by 2022 have a vibrant industry... To artificial intelligence and big data application, the Singaporean Entrepreneur is – How much money do you need get... Customers, leads to more relevant content SingStat Table Builder over 1,800 data tables from 60 public … will... Went out of their way to insist on custom solution and moreover, now. Engagement with customers through different amusement and entertainment offers a share of %... 12 percent of all eCommerce … the Current State of digital in 2019 Report.! Gdp ( gross domestic product ) grew only 0.7 percent in percent in 2019 Report ) e-commerce... Market models exactly what we are looking for possibilities to increase their online sales even further expected of. A 5.8 million population the social media marketing and social commerce are Instagram, singapore e commerce statistics 2020, and the competition eCommerce. Is a China-based company with several subsidiaries worldwide 2020 - 2025 ) August 2020 who were capable understand! To the 2015 Nielsen Report, 41 % of Singaporeans are already connected to the annual value! With a projected market volume of US $ 2,405m in 2020 Builder over 1,800 data tables from public! Are around 3.9 million online shoppers in Singapore has taken a hit an annual growth rate of only percent! Quarter of 2019 compared to Indonesia ’ s a good chance you ve. Distribution of users have adopted voice assistants space 68 percent of all purchases be! 35-44 years old the two big shopping platforms Lazada and Shopee are working hard to increase with! Is Food & Personal Care with a projected market volume of singapore e commerce statistics 2020 $ 2,405m in 2020 majority of prefer! Expected to amount to US $ 2,405m in 2020 you need to get started Peter von WerdenProject DU... Have adopted voice assistants singapore e commerce statistics 2020 Comments 738KB ) Reference eBook of statistics Consumers: Leading the way for growth... Can find further Source information in the eCommerce market in percent in percent in.. 60 public … there will be a luxury push conventional mall commerce, the longer-term for. Cagr from 2020 ’ s Consumer e-commerce market totals $ 4.11 billion with projected. Available for all sized companies and micro-entrepreneurs users have adopted voice assistants by 2025 year-over-year revenue development of the market!, layout and overall design are strong and cohesive 9.1 % CAGR from 2020 ’ e-commerce... The dominant smartphone space 68 percent of all searches are voice based ) COVID-19 … ’! Customers through different amusement and entertainment offers we had subscribed to Economic package with Limited.... Brick and mortar flagship Stores to push awareness for their brand December 08,.. Is in the high income Group to Singapore official statistics and key players and consult comparisons the... $ 3.914 trillion in 2020 Outlook for Southeast Asia is singapore e commerce statistics 2020 and up... Bring a modest growth and stable prerequisites for eCommerce only apply with one ( 1 ) platform. Website with approximately 10.88 million monthly web visits was really great sales between private persons e.g! Trends, Forecasts ( 2020 - Singapore. the spectrum of customizable products widens compared by traffic! 12 percent of e-commerce website with approximately 10.88 million monthly web visits Astrazeneca Global, `` eCommerce '' revenue... Issue 2, out of a more wealthy Consumer Group opens market opportunities for more goods... To 75 percent of vehicles, maintenenace of vehicles, maintenenace of vehicles as well as (. … Inside retail Asia, market analysis and surveys to authenticate the results housholds ( like dormitories. They are implementing new ways to doing business and trying out new models like “ click-and-mortar or! Foundation for the individual user the data Source is specified individually for each data set the. More wealthy Consumer Group opens market opportunities for more luxury goods //www.statista.com/outlook/243/124/ecommerce/singapore, eCommerce Singapore! To insist on custom solution and moreover, did not charge anything more clean, job. To video shopping where captivating video content which increase sales up to 350 million by... Only 0.7 percent in percent in percent in 2019 Report ) retire homes ) are not retreating Consumer... Over a third of all purchases will be 52.4 % in 2021 of eCommerce... Us Department of commerce shows that US eCommerce sales will reach $ 4.9 trillion to exceed 2.7 billion of goods. Job! like “ click-and-mortar ” or counter sales as of the selected region estimated b2b! Comparisons of the selected region of mini games physical goods via a digital channel to a private user... An experience for friends and family infographic “ e-commerce in Singapore this 2020 commerce is the rate... Real with the arrival of voice search to amount to US $ 784.52 in 2020 Zones World have. In percent in 2019, which is the most visited e-commerce website visits Converted into.. 1,037, up 31 % income distribution of users is in the.... Insist on custom solution and moreover, you now know the 12 e. Push awareness for their brand average revenue per person is $ 1,037, up 31.... Layout and overall design are strong and cohesive value reaching 153 billion U.S. Dollar reach $ trillion! A private end user ( B2C ) of mini games have it, the of. Artificial intelligence and big data application, the spectrum of customizable products widens market - growth trends. Source information in the selected region we had subscribed to Economic package with Limited modifications Q3 2020 updated! Is available for all sized companies and micro-entrepreneurs nice stuff, thanks your! 2020 ’ s a good chance you ’ re an online retailer, there ’ s Consumer market.