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. However, you may find calculating tax for e-commerce businesses a bit complex. Singapore’s ecommerce industry is growing quickly too, with total online spend increasing by more than 20 percent last year. In this case, you will need an expert assistance. GIF Credit: GIPHY. Don’t worry, we hate spam too. 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. 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. With online grocery retail growing so quickly in Singapore, it’s worth taking a look at the key players in the market. Increasingly, previously e-commerce dominant players are also taking an omnichannel approach to maintain their growth. 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. Singapore e-commerce market is fragmented despite rivals having moved into Singapore years ago. Singapore: Revenue in the eCommerce market is projected to reach US$2,405m in 2020. 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 … 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… $ … Ultra-fast internet and a young population drive sales . Learn how to design … 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. 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. Today, Singapore is still a tech infrastructure leader and has been ranked 2 nd globally in the Smart Cities Index, behind only Copenhagen. Interested in more insights? 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. 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. Track key industry trends, opportunities and threats. In fact, reports suggest that the e-commerce industry in Singapore will be worth S$7.5 billion (US$5.4 billion) by 2025. eCommerce Solutions. 1040587, E-Commerce by Channel and Category: Value 2014-2019, E-Commerce by Channel and Category: % Value Growth 2014-2019, E-Commerce GBO Company Shares: % Value 2015-2019, E-Commerce GBN Brand Shares: % Value 2016-2019, Forecast E-Commerce by Channel and Category: Value 2019-2024, Forecast E-Commerce by Channel and Category: % Value Growth 2019-2024, Standard Opening Hours by Channel Type 2018, Sales in Retailing by Store-based vs Non-Store: Value 2014-2019, Sales in Retailing by Store-based vs Non-Store: % Value Growth 2014-2019, Sales in Store-based Retailing by Channel: Value 2014-2019, Sales in Store-based Retailing by Channel: % Value Growth 2014-2019, Store-based Retailing Outlets by Channel: Units 2014-2019, Store-based Retailing Outlets by Channel: % Unit Growth 2014-2019, Sales in Non-Store Retailing by Channel: Value 2014-2019, Sales in Non-Store Retailing by Channel: % Value Growth 2014-2019, Grocery Retailers: Value Sales, Outlets and Selling Space 2014-2019, Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2014-2019, Sales in Grocery Retailers by Channel: Value 2014-2019, Sales in Grocery Retailers by Channel: % Value Growth 2014-2019, Grocery Retailers Outlets by Channel: Units 2014-2019, Grocery Retailers Outlets by Channel: % Unit Growth 2014-2019, Non-Grocery Specialists: Value Sales, Outlets and Selling Space 2014-2019, Non-Grocery Specialists: Value Sales, Outlets and Selling Space: % Growth 2014-2019, Sales in Non-Grocery Specialists by Channel: Value 2014-2019, Sales in Non-Grocery Specialists by Channel: % Value Growth 2014-2019, Non-Grocery Specialists Outlets by Channel: Units 2014-2019, Non-Grocery Specialists Outlets by Channel: % Unit Growth 2014-2019, Mixed Retailers: Value Sales, Outlets and Selling Space 2014-2019, Mixed Retailers: Value Sales, Outlets and Selling Space: % Growth 2014-2019, Sales in Mixed Retailers by Channel: Value 2014-2019, Sales in Mixed Retailers by Channel: % Value Growth 2014-2019, Mixed Retailers Outlets by Channel: Units 2014-2019, Mixed Retailers Outlets by Channel: % Unit Growth 2014-2019, Retailing GBO Company Shares: % Value 2015-2019, Retailing GBN Brand Shares: % Value 2016-2019, Store-based Retailing GBO Company Shares: % Value 2015-2019, Store-based Retailing GBN Brand Shares: % Value 2016-2019, Store-based Retailing LBN Brand Shares: Outlets 2016-2019, Non-Store Retailing GBO Company Shares: % Value 2015-2019, Non-Store Retailing GBN Brand Shares: % Value 2016-2019, Grocery Retailers GBO Company Shares: % Value 2015-2019, Grocery Retailers GBN Brand Shares: % Value 2016-2019, Grocery Retailers LBN Brand Shares: Outlets 2016-2019, Grocery Retailers LBN Brand Shares: Selling Space 2016-2019, Non-Grocery Specialists GBO Company Shares: % Value 2015-2019, Non-Grocery Specialists GBN Brand Shares: % Value 2016-2019, Non-Grocery Specialists LBN Brand Shares: Outlets 2016-2019, Non-Grocery Specialists LBN Brand Shares: Selling Space 2016-2019, Mixed Retailers GBO Company Shares: % Value 2015-2019, Mixed Retailers GBN Brand Shares: % Value 2016-2019, Mixed Retailers LBN Brand Shares: Outlets 2016-2019, Mixed Retailers LBN Brand Shares: Selling Space 2016-2019, Forecast Sales in Retailing by Store-based vs Non-Store: Value 2019-2024, Forecast Sales in Retailing by Store-based vs Non-Store: % Value Growth 2019-2024, Forecast Sales in Store-based Retailing by Channel: Value 2019-2024, Forecast Sales in Store-based Retailing by Channel: % Value Growth 2019-2024, Forecast Store-based Retailing Outlets by Channel: Units 2019-2024, Forecast Store-Based Retailing Outlets by Channel: % Unit Growth 2019-2024, Forecast Sales in Non-Store Retailing by Channel: Value 2019-2024, Forecast Sales in Non-Store Retailing by Channel: % Value Growth 2019-2024, Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2019-2024, Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2019-2024, Forecast Sales in Grocery Retailers by Channel: Value 2019-2024, Forecast Sales in Grocery Retailers by Channel: % Value Growth 2019-2024, Forecast Grocery Retailers Outlets by Channel: Units 2019-2024, Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2019-2024, Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space 2019-2024, Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2019-2024, Forecast Sales in Non-Grocery Specialists by Channel: Value 2019-2024, Forecast Sales in Non-Grocery Specialists by Channel: % Value Growth 2019-2024, Forecast Non-Grocery Specialists Outlets by Channel: Units 2019-2024, Forecast Non-Grocery Specialists Outlets by Channel: % Unit Growth 2019-2024, Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space 2019-2024, Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2019-2024, Forecast Sales in Mixed Retailers by Channel: Value 2019-2024, Forecast Sales in Mixed Retailers by Channel: % Value Growth 2019-2024, Forecast Mixed Retailers Outlets by Channel: Units 2019-2024, Forecast Mixed Retailers Outlets by Channel: % Unit Growth 2019-2024, Internet Retailing in the United Arab Emirates, The New Normal: Identifying the Markets Most Primed for Sustained E-Commerce Growth, Digital Consumer Survey 2020: Key Insights, How E-Commerce is Transforming B2B Sectors, Impact of India's Demonetisation Policy on Digital Payments Uptake One Year Later, Update on Our Top 10 Global Consumer Trends for 2017: Faster Shopping, Mobile Cocooning: How Growing Reliance on Smart Devices is Influencing Consumer Behaviour, Global Discretionary Goods & Services Markets in 2009 and 2010: Legacy of the Downturn (Part 2), Analysis of key supply-side and demand trends, Detailed market shares for international and locally-based retailers, Historic volumes and values, company and brand market shares, Five year forecasts of market trends and market growth, Robust and transparent market research methodology, conducted in-country. Overall, online spending in Singapore grew by 21 percent in 2018, although growth varied meaningfully across different sectors of the country’s online economy. 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. Singapore’s top e-commerce websites compared by estimated traffic. GB: 239-2559-40 Registered in England No. Who are the leading retailers in Singapore? 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. Total Retail and Retail Ecommerce* Sales in Singapore, 2015-2020 (billions, % change and % of total retail sales) Retail Ecommerce. 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. 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. Amongst the more ‘traditional’ grocery retailers, Fairprice tops SimilarWeb’s ranking of online success as measured by website traffic. Though generalist … With the country already enjoying strong uptake of ecommerce, and with total sales value currently increasing by more than 20 percent per year, there’s plenty of evidence to suggest that ecommerce has a promising future in Singapore. Annual Ecommerce Growth in Singapore by Category January 2019 DataReportal. 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. Singapore is served by local and global E-Commerce merchants. Last year, BMI Research’s study predicted Singapore’s e-commerce sales to reach S$10 billion (US$7.4 billion) in 2020. Income accrued in or derived from Singapore, or received in Singapore from outside of Singapore is taxed. If you're in the Internet Retailing industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions. That figure represents the fastest growth of any country in Southeast Asia, despite consumer goods already accounting for more than half of Singapore’s total online spend. E-commerce players such as Qoo10, Lazada and Shopee use gaming elements to incentivise customers to play, offering rewards that can be exchanged with shopping vouchers. The estimated monthly traffic from the top 10 e-commerce websites shows the lead of Lazada and Qoo10 over the Singaporean market with about 8 million visitors per month, followed by Carousell at 5 million. The Glimpsing the Road Ahead: Reshaping the Logistics Market report, citing a study by the payments technology company WorldPay, said the e-commerce market in Singapore … Statista 3 is expecting Singapore’s eCommerce market value to hit US$ 3.9 billion in 2024. 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. 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. Singapore: Revenue in the eCommerce market is projected to reach US$2,405m in 2020. 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. Singapore’s top e-commerce websites compared by estimated traffic. 40 Which internet sites are attracting the most sales? Delivery: Files are delivered directly into your account within a few minutes of purchase. Note: this article contains a number of updates to statistics featured in the report above. Consumer goods account for the largest share of Singaporeans’ online purchases. The only limitation might be Singapore’s relatively small size, but this also offers a distinct opportunity for ecommerce players, providing an ideal testbed for new ecommerce initiatives that can subsequently be rolled out across the rest of Southeast Asia and beyond. Have you ever used WordPress? Reports & Newsletters; Startups Sourcing; Trainings & Workshops; Coaching & Mentoring; Insights; Contact us +33 6 14 82 30 54 +65 9235 4234 ; Select Page. VAT No. What products are selling best over the internet? Check out all of our previous country reports by clicking here. Mobile applications today play a vital role in the development of e-commerce. Other players come after, with Shopee leading the pack above 2 million visits per month. 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. The "Singapore B2C E-Commerce Market 2019" report has been added to ResearchAndMarkets.com's offering. Travel grew most slowly, with online purchases up by less than 8 percent compared to 2017 spend. (The Global State of Digital in 2019 Report). 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. The average annual e-commerce revenue per person is $1,037, up 31%. The revenue in online business industry of Singapore is continuously increasing from 2017 to 2020. 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. Euromonitor International is the leading provider of strategic market research reports. According to the Google-Temasek e-Conomy SEA 2018 report, Singapore’s e-commerce market is expected to grow to USD 5 billion in 2025, nearly triple 2018’s USD 1.8 billion. page 1 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. 5. The Sea-backed e-commerce platform, Shopee, saw one of the highest growth rates among e-commerce companies in 2019. 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 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. Singapore’s mobile shoppers are relatively fashion-forward too, with regional favourite Zalora ranking sixth, and global stalwart ASOS placing tenth. At almost US$5 billion in 2019, Singapore’s e-commerce market size is only second to Indonesia’s US$11 billion. The report expects GMV of SEA’s e-commerce sales to reach US$88.1 billion in 2025. 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. Inform your marketing, brand, strategy and market development, sales and supply functions. The majority of Singaporeans are already connected to the internet. 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. 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. 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. Within the consumer goods sector, Electronics & Physical Media edged out Fashion & Beauty to take the greatest share, but only just. 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. 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. 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. This growth is estimated to happen at a rate of over 11% per year as a result of investments of up to US$50 billion expected to be made in the e-commerce sector until 2025. 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. 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. 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. 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. 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. 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. 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 & … Of the 4.9 million users, 3.5 million of … However, Singaporeans appear to have different preferences when it comes to web-based shopping. Purchase the Mobile E-Commerce in Singapore country report as part of our mobile internet retailing market research for March 2020. PRODUCT PREFERENCE . The top three most-visited online shopping websites in Singapore, Qoo10, Lazada, and Shopee, are all based in the country. 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. 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 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. Introducing enhanced country reports featuring interactive datagraphics, charts and analysis. Singapore E-Commerce Reports: Our 2020 Singapore report include trends, statistics, opportunities, sales data, market share, segmentation projections on the E-Commerce market. Purchase the Digital Commerce in Singapore country report as part of our digital commerce market research for May 2020. Thank you! Qoo10 remains the biggest e-commerce player in Singapore, having established its presence before the entrance of other players to the country. Internet Users in Select Countries in Southeast Asia Who Have Made a Digital Purchase, Dec 2015. Ecommerce Spend in Singapore by Category January 2019 DataReportal. © 2020 Euromonitor is privately owned & trademarked. Euromonitor International is the … Current Market Trends. Find the latest market research reports by McKinsey, pwc, Bain, Forrestor and more from market research firm ecommerceIQ. The "Singapore B2C E-Commerce Market 2019" report has been added to ResearchAndMarkets.com's offering. Getting consumers to experience more does not only involve establishing a physical presence, but also creating other experiences online. 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. Singapore. 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. Singapore's e-commerce sales are poised to reach $10b (US$7.4b) within 2017 to 2020, with a growth rate of 11.7%. 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. It was a very different story across consumer goods purchases though, with the sector as a whole up by a compelling 35 percent. We won’t share your details with anyone else.Please read our privacy policy for full details. The annual sales value of Singapore’s consumer e-commerce market totals $4.11 billion with a growth rate of 35% YoY. 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2020 singapore e commerce report