Merchants are looking for ways to expand their operations in the Southeast Asian market. Singapore is the most prominent nation in Southeast Asia, so it stands out in this race. Choosing which eCommerce platform Singapore entity to use for business remains the most difficult issue.
Furthermore, many merchants are already benefiting from trading in the Singapore market. Even amid the Covid-19 pandemic, the eCommerce platform Singapore entity is expanding at an unprecedented pace. According to the iPrice Community, the epidemic forced people to stay at home, but their desire to shop has grown over time. Transactions for both critical and non-essential products increased in the industry.
Singapore has nearly 5 million internet users and the highest mobile penetration rates in the world, making it a developed market for eCommerce. In 2019, 4.9 million people in Singapore used the internet, out of a total population of 5.8 million. According to Statista, consumer penetration is expected to 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. As eCommerce platforms in Singapore experienced a 23 percent increase in total site visits during the first half of 2020, data shows high customer trust in eCommerce. According to Statista, Singapore’s eCommerce sector would be worth $3.9 billion in 2024.
In this article we’ll be discussing the list of prominent eCommerce platform Singapore entities:
Carousell, as a Singaporean start-up, has a strong appeal to Singaporeans. Carousell was launched in 2012 primarily as a peer-to-peer platform for people to sell their creations, used products, or other imported goods. Due to a large number of customers available, companies began to use Carousell as their online marketplace to advertise their products and services over time.
Shopee, Southeast Asia’s first mobile-centric online marketplace, is a common middleman platform that enables buyers and sellers to sell products and conduct transactions online. One of Shopee’s most common features is that it charges almost no fees to merchants. As of the second quarter of 2020, Shopee was the most visited e-commerce website in Singapore, with approximately 10.88 million web visits per month.
With approximately 8.5 million monthly page visits, Lazada is Singapore’s second most visited eCommerce website development platform. Lazada is funded by the e-commerce behemoth Alibaba, which provides them with billions of dollars in funding. Lazada’s online marketplace has enough funding to compete with new and established rivals such as Carousell and Shopee. Lazada allows sellers to have supported product posts while also earning money from sales of these sponsored posts on their smartphone and web platforms.
Qoo10, like Lazada and Shopee, has a huge product directory with very low prices on its smartphone and eCommerce website development platforms. With approximately 8.5 million monthly page visits, Qoo 10 is Singapore’s third most visited e-commerce website. Qoo10 has regular promotional activities that encourage customers to do ‘Group Buy’ in order to stay competitive. This helps customers to get big discounts on the items they want. Qoo10 charges a fee for any product sale made through their platform by sellers.
Ezbuy used to be a forwarding service that allowed customers to buy products from China, Korea, Taiwan, and the United States at a lower shipping cost. Ezbuy’s forwarding service was one of the most important players in the eCommerce website development industry, where they could get goods for customers all over the world at a very low cost. Following its success, it expanded into an eCommerce platform Singapore expert, allowing customers to buy goods directly from their smartphone and web platforms.
HipVan is a Singapore-based eCommerce website development platform that was established in 2013. It is concerned with home furnishings. If you’re searching for lifestyle items or luxury furniture, you’ll find it here. They come in a variety of styles. Furniture styles include industrial modern, contemporary, retro, traditional, and resort.
Hip Van is a great place to shop because you can get high-quality items even if you don’t have a lot of money. The best part is that you won’t have to compete with big retail markups. You will have a 100-day trial period at home. The website is simple to navigate, and you can buy furniture on your bed. The website also has a homeware section where you can purchase rugs, mirrors, drinkware, cookware, bed essentials, and home organization items such as tissue boxes and waste bins, among other things.
If you want some interior decorating ideas, go to the blog section called inspiration and get expert advice. This Singaporean eCommerce website development platform will provide you with free delivery and assembly.
Zalora is another of Singapore’s top e-commerce websites and is ideal for those searching for fashion products. Although the marketing campaign seems to favor younger people, it caters to everyone looking for trendy products.
Zalora launched in Singapore in 2012, selling both local and international designer labels and brands. Premium products from the Banana Republic, Calvin Klein, Free People, French Connection, Lavish Alice, and other labels are available on the website. Among the clothing, labels are Dorothy Perkins, Forever New, Strawberry, Misguided, Something Borrowed, and Zalora.
One aspect of this platform that stands out is the apparent attention to detail in terms of how user-friendly it is. For example, if you’re searching for flip-flops, you’ll find them in a different section than slip-on shoes. As a result, finding whatever item you’re searching for on the platform is quite easy.
Start your eCommerce journey today
While the eCommerce world seems like a simple business model to enter, there are still complicated prerequisites to be met. The prerequisites include application procedure, laws to be met, and licensing required. Before entering the eCommerce businesses and engaging the various platforms, it is important to contact a professional service provider for assistance. Digital Solutions understands any licensing or prerequisites that one requires before starting an eCommerce business. Visit our website for more details today.