Lazada, Qoo10, and Shopee have official brand stores for both consumers and luxury brands, ensuring the authenticity of a product, as a consumer is less likely to question the authenticity of a product brought from an official store on Lazada's LazMall and Shopee's ShopeeMall. Chinese beauty brands Perfect Diary and Florasis are popular with Singaporeans due to their collaborations with popular characters and intricate floral designs.
The competitive landscape of e-commerce in Singapore is highly fragmented, with third party merchants holding the highest combined value share. Multiple aggressive brand acquisitions combined with tens of millions in funding, mean that these e-commerce aggregators have the potential to obtain a sizeable share over the forecast period.
During the pandemic, residents were reluctant to visit the doctor for minor ailments to reduce the strain on healthcare facilities. In contrast to the Southeast Asian region, regulations of prescription and over-the-counter (OTC) drugs are extremely tight in Singapore.
Conventional marketing calls for an exclusive community to increase brand recognition and drive sales, a pricing and promotional strategy made famous by the ubiquitous Warehouse Club membership programmes. Shopee's mother and baby club and Lazada's family club are communities that target parents with infants and toddlers.
An assumption made by many is that BNPL (Buy Now Pay Later) is a form of short-term financing service. With these financial arrangements, a consumer can seek instant gratification in purchasing a product by splitting a transaction into three or four smaller payments.
E-commerce players could seek to capitalise on the older generation's spending power. In addition to increasingly high internet penetration numbers and rapid digital consumer growth, a growing number of older consumers have embraced technology to connect with their peers through a myriad of activities.
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Sales of consumer goods to the general public via the Internet. Please note that this includes sales through mobile phones and tablets (i.e. m-commerce). E-commerce includes sales generated through pure e-commerce websites and through sites operated by store-based retailers. Sales data is attributed to the country where the consumer is based, rather than where the retailer is based. The definition of e-commerce is agnostic as to where actual payment takes place; if an order is initiated online, it is considered to be an e-commerce transaction, even if the order is ultimately paid for in-store (or elsewhere). As a result, all ‘click-and-collect’ and ‘collect-at-store’ transactions are counted as e-commerce sales. E-commerce excludes sales of: (a) Consumer-to-consumer (C2C) and business-to-business (B2B) sales, although please note that sales between businesses and consumers (i.e. B2C sales) on sites such as eBay are included; (b) Sales of motor vehicles, motorcycles and vehicle parts; (c) Tickets for events (sports, music concerts, etc.) and travel; (d) Sales of travel and holiday packages; (e) Revenue generated by online gambling sites; (f) Returned products/unpaid invoices; and (h) Internet sales from direct selling companies, as these are tracked in Direct Selling market size/shares. Example e-commerce brands include Amazon.com, Zappos.com, Apple.com, iTunes, Rakuten, Tesco.com, Dell.com, Coles Online, etc. 3rd Party Merchant sales through online marketplaces, such as Amazon.com, eBay.com and Walmart.com, are included and split out in shares. 3rd party merchants are the summation of sales that come from businesses that are present on an online marketplace (e.g. Amazon, Alibaba). Marketplaces are websites that allow multiple merchants to sell on the marketplace website, with the marketplace operator processing the transactions, but many marketplaces provide offer other services as to help with shipping, handling, payment, and product storage. The marketplace is not the merchant of record legally, but for the sake of shares, sales from 3rd part merchants are attributed to the marketplace brand operator.See All of Our Definitions
This report originates from Passport, our E-Commerce (Goods) research and analysis database.
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