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What is the Best E-Commerce Platform in Singapore?

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What is the Best E-Commerce Platform in Singapore?

2021-02-04T09:39:43+08:00November 26, 2020|0 Comments

In 2018, data shows that Singaporeans spent a total of US$8 billion online. The figure shows that e-commerce is trending in Singapore. Being an international trading port, Singaporean have access to goods from various sectors which include electronics, beauty, and fashion.

If you are a new start-up in Singapore, especially in the field of Food & Personal Care, you should consider employing online platforms as a marketplace for businesses. In 2020, the Food & Personal Care segment is projected to have US$593m of market volume with a 52.4% user penetration of e-commerce platforms.

Here’s a list of popular e-commerce platforms that Singaporeans use often:

Carousell

Being a local start-up in Singapore, Singaporeans can resonate strongly with Carousell. Carousell was first introduced in 2012 mainly as a peer-to-peer platform, where people can sell their creations, secondhand goods, or other imported goods. As time goes, businesses also started using Carousell as their online marketplace to promote their goods and services due to the big customer available.

Shopee

Shopee, the first mobile-centric online marketplace in Southeast Asia, is a popular middleman platform that allows buyers and sellers to sell goods and carry out transactions online. One of the popular features of Shopee is it charges almost no fees for the merchants. As of the 2nd quarter of 2020, Shopee ranked top as the most visited e-commerce website in Singapore with about 10.88 million web visits every month.

Lazada

Lazada is the second most visited e-commerce website in Singapore with approximately 8.5 million monthly web visits. Lazada is backed by the e-commerce giant Alibaba which provides them billions in funding. Lazada online marketplace has sufficient fundings to compete with emerging and popular competitors like Carousell and Shopee. Lazada allows sellers to provide sponsored product posts, while also generating revenue from the sales of these sponsored posts on their mobile and web platform.

Qoo10

Like Lazada and Shopee, Qoo10 has a large product directory at very affordable prices on its mobile and web platform. Qoo 10 is the third most visited e-commerce website in Singapore with about 8.5 million monthly web visits. To remain competitive, Qoo10 has frequent promotional activities that allow consumers to do ‘Group Buy’. This allows consumers to purchase their desired goods with huge discounts. Qoo10 charges a commission on every product sale that sellers make through their platform.

Ezbuy

Ezbuy used to be a forwarding service that allows consumers to purchase goods from mainly China, Korea, Taiwan, and the USA at a lower shipping rate. Ezbuy’s forwarding service was one of the biggest players in Singapore’s E-Commerce market, where they can get products for consumers overseas at a very affordable rate. Following this success, it also branched out as an E-Commerce platform that allows consumers to purchase their products directly from their mobile and web platform.

Thinking of incorporating in Singapore? Let’s get started.

E A S I E R • F A S T E R • B E T T E R

What are some of the traits of the best e-commerce platform?

It might be quite challenging to directly point on the best e-commerce platform in Singapore. However, the above lists show the most frequented e-commerce platforms that Singaporeans use in their day-to-day routine. Nonetheless, let’s look at some of the key attributes that one would consider when choosing e-commerce to shop from.

Irrespective of the state under consideration, some of the attributes that are attached to a successful eCommerce website include:

  • Having an effective call to action
  • It must be dealing with legitimate products and not deceive its buyers
  • It needs to have secure payment methods to gain the buyers’ trust
  • Strong social elements
  • It should be easy to navigate the website
  • The images must be clear and with the correct description
  • Finally, a good e-commerce platform should have an efficient shopping cart for ease of shopping.

While the E-Commerce 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 E-Commerce businesses and engaging the various platforms, it is important to contact a professional service provider for assistance. Paul Hype Page understands any licensing or prerequisites that one requires before starting its E-Commerce business.

What is the Best E-Commerce Platform in Singapore? FAQs

What is the internet penetration rate in Singapore?2020-11-26T14:01:11+08:00

According to Statista, the internet penetration rate in Singapore is 88.4 percent as of mid-2020. 

Which are some of the best e-commerce website builders that I should consider for my small business?2020-11-26T14:00:37+08:00

As a small business owner, you can consider any of the following to build an e-commerce website for your company:

  • Wix
  • Weebly
  • Squarespace
  • BigCommerce
What are the essential e-commerce features that I must take note of?2020-11-26T14:00:08+08:00

The essential e-commerce features that you must pay attention to are:

  • The ability to manage capabilities
  • Promotion and discount codes option to encourage return buyers
  • Email marketing features for marketing and information passing
  • An integrated content features
  • Reporting tools to collect feedback from your buyers
  • User-friendly
What are other e-commerce platforms in Singapore besides those mentioned above?2020-11-26T13:57:37+08:00

Other e-commerce platforms in Singapore besides those mentioned above are ZaloraReebonz, and RedMart. 

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