Best eCommerce platform
Merchants are searching for new methods to grow into the Southeast Asian market. Singapore is the most well-known country in Southeast Asia, thus it stands out in this competition. The most challenging problem is choosing which eCommerce platform Singapore company to employ for business.
Furthermore, many businesses are already reaping the benefits of dealing in the Singapore market. Even in the midst of the Covid-19 epidemic, the eCommerce platform Singapore entity is growing at an unprecedented rate. The pandemic, according to the iPrice Community, caused individuals to remain at home, but their urge to buy has increased with time. Transactions in the sector rose for both critical and non-critical goods.
Singapore has almost 5 million internet users and the world’s highest mobile penetration rates, making it an established eCommerce market. In 2019, 4.9 million Singaporeans, out of a total population of 5.8 million, utilized the internet. Consumer penetration is projected to reach 64.3 percent by 2024, according to Statista.
Singapore’s eCommerce platform Singapore entity is growing, with S$113 spent online on average from January to June 2020. Data indicates that consumer confidence in eCommerce is strong, as eCommerce platforms in Singapore saw a 23 percent rise in total site visits during the first half of 2020. Statista estimates that Singapore’s eCommerce industry will be valued at $3.9 billion in 2024.
In this post, we will look at the following major eCommerce platform Singapore entities:
As a Singaporean start-up, Carousell has a great attraction to Singaporeans. Carousell was founded in 2012 as a peer-to-peer marketplace allowing individuals to sell their inventions, old items, or other foreign things. Companies started to utilize Carousell as their online marketplace to promote their goods and services over time due to the huge number of consumers accessible.
Shopee, Southeast Asia’s first mobile-centric online marketplace, is a shared intermediary platform that allows buyers and sellers to sell and trade online. One of Shopee’s most notable characteristics is that it costs merchants virtually no fees. Shopee was the most frequented e-commerce website in Singapore as of the second quarter of 2020, with about 10.88 million web visitors per month.
Lazada is Singapore’s second most frequented eCommerce website building platform, with about 8.5 million monthly page views. Lazada is backed by the e-commerce giant Alibaba, which invests billions of dollars in the company. Lazada’s online marketplace is well-funded enough to compete with both new and existing competitors such as Carousell and Shopee. Lazada enables merchants to have sponsored product posts and earn money from sales of these sponsored posts on their smartphones and online platforms.
Qoo10, like Lazada and Shopee, offers a massive product catalog with very cheap pricing on its smartphone when you develop an eCommerce website. Qoo 10 is Singapore’s third most frequented e-commerce website, with about 8.5 million monthly page views. In order to remain competitive, Qoo10 runs frequent promotional events that encourage consumers to “Group Buy.” This allows consumers to get substantial savings on the goods they want. Qoo10 charges a fee for every goods sale made by merchants on their site.
Ezbuy was formerly a forwarding business that enabled consumers to purchase goods from China, Korea, Taiwan, and the United States at a reduced shipping cost. Ezbuy’s forwarding service was one of the most significant participants to develop an eCommerce website, allowing them to get products for consumers all over the globe at a cheap cost. Following its popularity, it grew into an eCommerce platform Singapore expert, enabling consumers to purchase products straight from their smartphones and online platforms.
HipVan, founded in 2013, is a Singapore-based eCommerce website building platform. It is focused on the furnishing of one’s house. If you’re looking for lifestyle goods or luxury furnishings, this is the place to be. They are available in a number of styles. Industrial modern, contemporary, vintage, classic, and resort are some of the furniture styles available.
Hip Van is a wonderful location to shop since you can obtain high-quality goods without spending a lot of money. The greatest thing is that you will not have to compete with large retail markups. You will enjoy a 100-day home trial period. The website is easy to use, and you can purchase furniture from the comfort of your own bed. There is also a homeware area on the internet where you can buy carpets, mirrors, drinkware, kitchenware, bed necessities, and home organizing products like tissue boxes and trash bins, among other things.
If you’re looking for some interior design ideas, visit the Inspiration area of the site for professional guidance. You will get free shipping and assembly from this platform when you develop an eCommerce website business.
Zalora is another of Singapore’s top e-commerce websites, and it is excellent for people looking for trendy items. Although the marketing effort seems to be aimed towards younger people, it is open to everyone searching for fashionable goods.
In 2012, Zalora opened its doors in Singapore, offering both local and international designer labels and brands. The website sells high-end items from Banana Republic, Calvin Klein, Free People, French Connection, Lavish Alice, and other brands. Dorothy Perkins, Forever New, Strawberry, Misguided, Something Borrowed, and Zalora are among the apparel brands.
Begin your eCommerce adventure right now
While the eCommerce industry seems to be a straightforward business model to join, there are a number of complex requirements that must be fulfilled. The requirements include the application process, the laws that must be followed, and the license that is needed.
Before you develop an eCommerce website and use different platforms, it is essential to get the advice of a competent service provider. Digital Solutions is aware of any licenses or requirements needed before establishing an eCommerce company. Visit our website now for more information.