Merchants are looking for new ways to expand into the Southeast Asian market. Singapore is the most well-known Southeast Asian country. As a result, it stands out in this competition. The most difficult challenge is deciding which eCommerce platform Singapore company to choose for business.
Furthermore, many companies are already realizing the benefits of doing business in Singapore. Even in the midst of the Covid-19 outbreak, the eCommerce platform Singapore entity is expanding at an unprecedented rate. According to the iPrice Community, the pandemic prompted people to stay at home, but their desire to buy has grown with time. The sector’s transactions increased for both critical and non-critical items.
Singapore has around 5 million internet users and one of the highest mobile penetration rates in the world, making it a well-established eCommerce market. In 2019, 4.9 million Singaporeans used the internet out of a total population of 5.8 million. According to Statista, consumer penetration will reach 64.3 percent by 2024.
Singapore’s eCommerce platform Singapore entity is expanding, with an average of S$113 spent online from January to June 2020. According to data, consumer trust in eCommerce is critical, since eCommerce platforms in Singapore saw a 23% increase in total site visits during the first half of 2020. According to Statista, Singapore’s eCommerce market will be worth $3.9 billion in 2024.
In this piece, we shall look at the following Singapore central eCommerce platform entities:
Carousell, as a Singaporean start-up, is very appealing to Singaporeans. Carousell was launched in 2012 as a peer-to-peer marketplace enabling people to sell their innovations, antiques, and other foreign stuff. Because of the large number of available consumers, businesses began to use Carousell as their online marketplace to promote their goods and services over time.
Shopee, Southeast Asia’s first mobile-centric online marketplace, is a shared middleman platform that connects buyers and sellers online. One of Shopee’s most prominent features is that it charges merchants almost no fees. With around 10.88 million online visitors per month, Shopee was the most visited e-commerce website in Singapore as of the second quarter of 2020.
With around 8.5 million monthly page visits, Lazada is the second most popular eCommerce website design Singapore platform. Alibaba, the world’s largest e-commerce corporation, has invested billions of dollars in Lazada. Lazada’s online marketplace is well-funded enough to compete with both new and established competitors like Carousell and Shopee. Lazada allows merchants to have sponsored product posts and earn money from sales of these sponsored posts through their cellphones and online platforms.
When you establish an eCommerce website design Singapore firm, Qoo10, like Lazada and Shopee, offers a vast product library with the very low pricing on its smartphone. With around 8.5 million monthly page views, Qoo 10 is Singapore’s third most visited e-commerce website. Qoo10 offers frequent promotional events to encourage users to “Group Buy” in order to remain competitive. This helps customers to save a lot of money on the items they want. Qoo10 charges a commission for each item sold by a merchant on their website.
Ezbuy was previously a forwarding company that allowed customers to buy goods from China, Korea, Taiwan, and the United States at a lower shipping cost. Ezbuy’s forwarding service was one of the most important participants in the development of an eCommerce website design Singapore platform, allowing them to obtain products for customers all over the world at a reasonable cost. Following its success, it evolved into an eCommerce platform Singapore expert, allowing customers to buy things directly from their cellphones and online media.
HipVan is an eCommerce website design Singapore platform that was created in 2013. It is concerned with the furnishing of one’s home. This is the place to go if you’re seeking lifestyle items or luxury furnishings. They are available in a variety of styles. Furniture styles include industrial modern, contemporary, vintage, classic, and resort.
Hip Van is a lovely place to shop because you can get high-quality items without spending a lot of money. The most important difference is that you will not have to compete with high retail markups. You will get a 100-day trial period at home. The website is simple to navigate, and you can buy furniture from the comfort of your own bed. There is also an internet homeware section where you can buy rugs, mirrors, drinkware, kitchenware, bed needs, and home organizing tools such as tissue boxes and garbage bins, among other things.
If you’re seeking interior design inspiration, go to the Inspiration section of the site. When you establish an eCommerce website, you will receive free shipping and assembly from this platform.
Zalora is yet another of Singapore’s top e-commerce websites, and it is ideal for those shopping for contemporary things. Although the marketing campaign appears to be directed towards younger people, it is open to anybody looking for trendy items.
Zalora launched in Singapore in 2012, offering local and international designer labels and brands. High-end brands like the Banana Republic, Calvin Klein, Free People, French Connection, Lavish Alice, and others are sold on the website. Among the clothing, labels are Dorothy Perkins, Forever New, Strawberry, Misguided, Something Borrowed, and Zalora.
Begin your eCommerce journey right now
While the eCommerce market appears to be a simple business model to enter, several complex requirements must be met. The prerequisites include the application process, the applicable laws, and the required license.
It is critical to seek the opinion of a knowledgeable service provider before developing an eCommerce website and utilizing various platforms. Digital Solutions is aware of any licenses or requirements that must be met before launching an eCommerce business. For more details, please visit our website right now.