The E-commerce market share is constantly growing. Part of this is due to the COVID pandemic but also to the fact that online shopping is effortless and can be done from any place at any time. Singapore's e-commerce market is very well-developed and offers so many possibilities for shopping. However, the most popular retailers there are slightly different from those you know from the European and American markets. This article will find the best e-commerce platforms for retailers in Singapore.
Best e-commerce platforms for the Singapore retailers
The variety of platforms is enormous, but as in any other market, there are smaller and more significant players in Singapore as well. You might already know and use some of them, but others are maybe names you haven't heard of since they are more focused on the Asian market. If you want to expand your market and Singapore is your next target, then those are the e-commerce platforms you should go for.
Lazada
Lazada is one of the first e-commerce platforms that opened doors for the Singapore market. They started back in 2011 and are now famous as the Amazon equivalent for Southeast Asia. In 2016 seeing the growth and potential of Lazada, Alibaba bought the company's majority share.
The monthly traffic is estimated to be over 8 million visits, and this is making Lazada one of the most popular e-commerce platforms not only in Asia but in the world. The goods that the retailer offers are so diverse. You can find anything from A to Z.
To maintain its status as the e-commerce leader in Southeast Asia, Lazada invests a lot in marketing. They are constantly trying to attract new users through powerful and brought ad campaigns. Lazada is trying to actively outrank all of its competitors in most search engines by bidding strongly against their brand names and generic keywords.
When it comes to user experience – Lazada is trying to offer the smoothest use possible. You can easily search for the product you want and filter the results based on many criteria. You can find a lot of promotions that are running all the time on the platform, depending on the current special activities.
Qoo10
Qoo10 is another huge e-commerce platform for retailers in Singapore. They have almost the same number of visits per month as Lazada. They estimate that they have more than 7 million and a half monthly visits. Until 2012 the site was called Gmarket. Qoo10 is run by Giosis, which is a venture company that is in partnership with eBay.
They expanded their reach, and now they are a big player not only in Singapore but the whole of Southeast Asia. It offers a variety of items, and the most significant part of the assortment comes from Korea. Qoo10 is very focused on fashion and clothing categories. This e-commerce platform also has many partnership agreements with shopping centers and shop chains in many countries in Southeast Asia.
Qoo10 is actively running promotions all the time and tries to improve customer experience. This is why they introduced a bidding system in place and the possibility of buying in bulk. But the bulk buying is not as you probably imagine it – you are purchasing huge amounts of the same item. It actually means that if many people buy the same item, then you can obtain great discounts.
Maybe the most significant advantage of Qoo10 is the very fast delivery options. Many local shops and retailers that offer their products on the platform offer delivery options in partnerships with local shipping services. In some cases, your goods can be delivered in less than 3 hours.
Shopee Singapore
Shopee has been present in the Southeast Asia market for already a while. The visits they receive per month are nearly 3 million. This e-commerce platform managed to catch up with competitors even though they launched considerably later in the Asian market in 2015. Now they have even revolutionized the Asian market – they don't charge any commission from the sellers.
The practice of not charging the seller allows Shopee to offer very competitive prices. This e-commerce platform is taking care of its customers as well. They collect the payments and do not release them to the sellers until the customer receives the goods. This motivates the sellers to send the products on time with the fastest possible shipping.
Also, the platform offers the possibility to customize the product listings for each location where Shopee is available. They are advertising their platform on different search engines and, like this, finding more and more new customers, but they use the power of in-app advertisement as well. Their ads are shown in several apps from where new customers are coming to Shopee to buy their favorite products.
Amazon Singapore
Amazon is an e-commerce platform that we all know, and it is available in almost any country in the world. Singapore is not an exception. The success of Amazon is due to the use of amazing technology and innovative business strategies. They offer products with the Amazon brand, proving how successful this platform is. Products like Echo, smartwatches and many other technical gadgets are just a tiny part of the assortment. Amazon Basic offers almost anything you can imagine.
Something that Amazon is famous for, except the variety of products they offer, is also the impeccable customer service. They have many agents that will be able to assist you via email, phone, or chat and make sure all your inquiries are answered and resolved. Amazon is very flexible when it comes to returns and claims.
You can find everything on Amazon literally. This is probably the biggest e-commerce platform for retailers from any sector. You will find various products, and if you type something as simple as “phone case,” you will have at least a couple of hundreds of results. The platform offers many options like “Subscribe & save” and also “Pay in 5 times”. On top of that, there are constant discounts that are being offered.
So which one is for you?
There are many e-commerce platforms in Singapore, but a couple of big players dominate the market. They offer a huge variety of products and have millions of visits per month. They provide great options for retailers but also for customers. The best solution for you as a retailer would be to list your products on all major e-commerce platforms to reach the biggest number of people possible.
There isn't something like the best e-commerce platform because they all offer almost the same products. The best solution for you as a retailer would be to list your products on all major e-commerce platforms to reach the biggest number of people possible.
