If you want to enter the Southeast Asian market, you can start from Singapore, but this is both an opportunity and a challenge.
Editor’s note: This article is from WeChat public account “7:5 degrees” (Asia7_5), authorized to reprint.
Next you will see:
Singapore e-commerce development status
Participating players in the market
Payment and Logistics Development
Future Trend Development
Singapore e-commerce development status
Singapore’s e-commerce environment can be said to be the number one in Southeast Asia, so Singapore has the most mature e-commerce market in Southeast Asia. It has a well-developed infrastructure, a affluent population, and an Internet penetration rate of 84%. Big e-commerce giants are vying for the Singapore market. At the same time, the superior geographical location has also attracted global companies to use it as an e-commerce hub.
Since Singapore’s promotion in mobile e-commerce, logistics, payment and other areas and the popularity of Singapore’s shopping, the people who want to start a personal e-commerce business in Singapore or want to develop through a third-party platform For businesses, it is a good opportunity.
Participating players in the market
Comprehensive E-commerce
Lazada
is the largest integrated e-commerce platform in Southeast Asia and is headquartered in Singapore. Lazada mainly deals in 3C electronics, household items, toys, fashion apparel, sports equipment and other products. In 2016, Ali invested $1 billion to hold Lazada, and in 2017 invested $1 billion to increase its stake to 83%. In March 2018, Alibaba made an additional investment of 2 billion US dollars. At present, Alibaba Group’s investment in Lazada has reached a total of 4 billion US dollars. LazaDa has successfully launched online e-commerce business in six Southeast Asian countries including Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam, serving nearly 600 million consumers.
Shopee
Shopee was founded in 2015 and is headquartered in Singapore. It is the leading e-commerce platform in Southeast Asia and Taiwan. It covers seven markets including Singapore, Malaysia, Philippines, Taiwan, Indonesia, Thailand and Vietnam. , home, beauty care, maternal and child, clothing and fitness equipment. Shopee’s self-built logistics SLS (Shopee Logistics Services) has been fully launched in seven major sites in Southeast Asia and Taiwan. In 2018, Shopee had more than 600 million transactions throughout the year, and the overall GMV reached $10 billion.
Qoo10
Qoo10 was established in 2010 to build an e-shopping platform for the integration of all-Asian resources. It is the most mature local B2C in Southeast Asia with a convenient, safe and enjoyable shopping experience. platform. Currently, the company has operated seven shopping website platforms in five countries including Singapore. In 2015 Ebay participated in the platform investment, in April 2018 Ebay fully controlled Qoo10 parent company Giosis, and Qoo10 Japan station. A special feature of Qoo10 is the ability to pay at a local 7-11 convenience store.
Ezbuy
Founded in 2010, Singapore’s overseas purchasing originator was originally named 65daigou. EZbuy is an online shopping platform that sells apparel, home, home, beauty, sports, automotive and electronics. It mainly focuses on products from South Korea, Taiwan and the United States, and promotes cheap products throughout the site. As of today, ezbuy has more than 3 million customers from Singapore, Malaysia, Indonesia and Thailand.
Carousell(Southeast Asia “small fish”)
Carousell is a well-known second-hand trading platform in Singapore. It is similar to Singapore’s “free fish” and is mainly used in mobile terminals. It also has e-commerce platforms in Malaysia, Singapore, Indonesia, Taiwan, Australia and Hong Kong. With the C2C gameplay, users can freely trade idle items on the platform after simply editing the product information and uploading the physical map.
Amazon Singapore
Amazon, the largest online e-commerce company in the US, was on October 8 this year.Entering Singapore, there are currently 13 categories covered at Amazon Singapore, including books and audiovisual products, video games, consumer electronics, toys and maternity, and kitchen and home. Since then, Singaporean companies will be more likely to sell products on Amazon, attract more customers and expand their business. Sellers from Amazon Global are also able to reach out to Singaporean consumers, providing more opportunities for them to expand their global business and build international brands.
Vertical E-commerce
Zalora (fashion e-commerce)
ZALORA is an online fashion and beauty product shopping platform. Founded in 2012, it has received multiple investments from investors such as Tengelmann Group, Access Industries. More than 500 brands have been established, and sites have been set up in 11 countries including Singapore, Australia, New Zealand, Indonesia, Malaysia, Thailand, Vietnam, Hong Kong, Brunei and the Philippines. In the B2C mode platform, Zalora also launched the C2C platform, which is specially designed for some third-party small businesses. Zalora 30% of orders come from the mobile side, 70% of the customer base is women and 30 are men.
Singsale
Singsale is Singapore’s only membership online fashion shopping site. Every day we constantly update the sales of the world’s top fashion brands. Members can participate in and enjoy up to 80% discount on high-end designer fashion women’s wear, men’s wear, children’s wear and accessories, as well as beauty and household goods brands.
Love, Bonito (fashion e-commerce)
In 2010, Love, Bonito was just a blog shop selling imported clothing from Bangkok and South Korea. In recent years, with the design and smart social media operation that is more in line with Asian personal style, Love, Bonito’s online business has developed rapidly and its operating income has been rising. Now, its business has been done in countries such as Malaysia, Indonesia and Cambodia. In addition to online business, Love, Bonito is also actively developing physical store business in these countries and improving sales channels.
Reebonz (fashion e-commerce)
Founded in March 2009 and headquartered in Singapore, it is an e-commerce website that sells discounted luxury goods. In addition to discount luxury goods, there are second-hand luxury goods for sale. The website operates in Singapore, Malaysia, Thailand, Indonesia, Brunei, Korea, Australia, New Zealand, China, Hong Kong and Taiwan. Reebonz has won GGV CAPITAL, MATRIInvestment in XV and ERTEX VENTURE.
Redmart (Fresh Groceries)
Founded in 2011, investors include Garena, Softbank, etc.; it leads Singapore’s food fresh groceries online shopping market, has its own food supply chain, warehouse and logistics, and can deliver within two hours. In November 2016, Lazada acquired Redmart.
FairPrice On
FairPrice Online is the e-commerce portal of NTUC Fairprice Co-operative Ltd, Singapore’s largest grocery retailer, and FairPrice is Singapore’s main grocery retailer. Customers can purchase home products such as fresh food, home and baby products on FairPrice On, which can be delivered home or at a convenient time.
Fave (group buy cashback)
Fave is the Southeast Asia O2O e-commerce platform, formerly known as Groupon, a group buying and discounting platform. With Fave, you can enjoy up to 80% off at restaurants, cafes, spas, salons, gyms, retail stores and more.
Shopback
ShopBack is located in Singapore and was established in 2014 to help customers get discounts and cash backs when shopping in Southeast Asia. In Singapore, Malaysia, Indonesia, Philippines, Thailand, Taiwan and Australia, the company has established more than 300 monthly orders. Millions. At present, ShopBack has more than 2,000 merchant partners, providing consumers with up to 30% cash back, while providing cost-effective marketing for merchant partners, and constantly strive to bring consumers a smarter shopping experience.
Sephora Singapore
Sephora is a professional beauty e-commerce company and a leading online beauty and cosmetics retailer in Singapore. Founded in France in 1969, Sephora was originally a chain of cosmetics and beauty products. Since then, Sephora has become an e-commerce leader in the beauty and cosmetics sector in many countries.
Althea (Beauty Dealer)
Althea is mainly for the Southeast Asian market. It mainly sells Korean beauty products. In addition to cooperation with well-known beauty brands such as Lange, Yueshi and Yidi, Althea also helps South Korea.Xing brand is exported to Southeast Asia.
Courts Singapore
Courts, originally from the UK, has become a major retailer of electrical, IT and furniture in Singapore and Southeast Asia, with more than 850 stores with a market capitalization of S$1.4 billion and revenues of S$6.1 billion. As a leading omni-channel retailer, Courts also encourages customers to purchase their products on their official website, and in 2012 launched an online store offering 7,000 products, which has grown to more than 17,000.
HipVan (Home Improvement Home E-commerce)
HipVan is a bit like the online store version of IKEA. The company was founded in January 2013 and has previously raised $1.4 million from the seed period and $3.3 million in Series A financing. They initially offered a limited number of fashion items and later expanded to an unlimited number of home improvement products. The site’s blog, Inspirations, also offers some advice on home decor.
Forty Two (Home Improvement Home E-commerce)
FortyTwo (formerly BEDS.sg) was first launched in September 2007 and sells furniture, home décor and lifestyle items. After more than a decade of development, there are more than 200,000 customers with more than 220,000 visitors per month.
Pupsik (mother and baby e-commerce)
Pupsik (meaning “baby doll” in Russian) was founded in Singapore in 2008 and was originally a home studio offering comfortable, affordable and affordable baby slings (with baby slings). From the initial production of high-quality baby carriers to today’s one-stop baby care and parenting products, carefully selected products that meet the needs of parents.
Motherswork
The company was founded in Singapore in 1998 and hopes to provide the best things for children at different stages, not only offline stores, but also online shopping on the official website, while the company pays more attention to offline activities. Mothers can make appointments for the baby.
Kiddy Palace
Kiddy Palace was originally founded in 1992. It is also a retail store for baby products. There are usually discounts and discounts on the products. There are currently 15 retail stores in Singapore and online shopping.
Mothercare (mother and baby e-commerce)
Mothercare is a brand from the UK with more than 1,100 stores worldwide. The branches in Singapore are also everywhere. They can be purchased directly on their official website, often with discounts and discounts.
Payment and Logistics Development
Data source: worldpay
According to the global payment report published by worldpay in 2019, although cash is the main payment method at the point of sale, more consumers prefer to pay by credit card and debit card. In addition to Singapore’s local and global bank card brands, e-wallets such as Apple Pay and PayPal are also very common in the area of e-commerce in the region. Although shoppers in the country are proficient in technology and smartphones are very popular, there is currently not much change in the payment habits of e-wallets.
Singapore Port, one of the busiest ports in the world, alternating between the heat and the heat, staying up all night. Such a hub of international logistics has also attracted many logistics express companies to take root here. At present, Singapore’s express logistics business is relatively mature in the entire Southeast Asian market, which is mainly due to its relatively complete infrastructure. As a result, not only local logistics are growing, such as Lazada Express, NinjaVan, GrabExpress, Singapore Post, Park N Parcel, but also Chinese companies such as SF and rookie, which also lead to competitive pressure in Singapore’s logistics industry. rising.
Future trend development
Statista data shows that in Singapore, the electronic & media e-commerce market is expected to reach $1.3 billion in 2021, accounting for 26.5% of total e-commerce. In 2021, the fashion e-commerce market is expected to account for 24.5% of the total e-commerce. Furniture and home are the fastest growing categories, and the furniture & home appliance e-commerce market is expected to account for 15.4% of total e-commerce in 2021.
Although the Singapore market does not account for a large proportion of the market in Southeast Asia, the per capita consumption of e-commerce in the region is the highest online consumption in Southeast Asia, so “affordable” is one of Singaporeans compared to other Southeast Asian countries. Big label.
From this point of view, you may wish to enter the Southeast Asian market from Singapore, but this is both an opportunity and a challenge.Singapore’s consumption level is relatively high, so users are more sensitive to quality and service. The price is definitely a factor that influences consumption decisions. Therefore, it is the product that provides customers with better quality and better price and more efficient and accurate delivery service. The key to generating loyalty and willingness to continue to repurchase.
编 | 云晞@出海
Picture|Pexels
