Singapore e-commerce market size is worth S$1.1 billion in 2010

And the forecast will hit S$4.4 billion in 2015, according to PayPal’s research. With only 1.2 million of Singaporean who go for online shopping, they had an average spend per head of S$1,492 over the past year, two-thirds of those online users spend (S$730 million) came from the middle income and above (personal earnings of S$4,001 and above) groups in Singapore.

 

Online purchase across Singapore is 40% of overall sales

A significant portion of online purchases are domestic. Even when Singaporean online shoppers buy from overseas websites, they quote “unavailability” (58%) and “greater choice” (48%) as more important reasons than “less expensive” (44%), “better discounts” (42%) or “strong Singapore dollar” (35%).

According Elias Ghanem, PayPal’s General Manager for South East Asia and India, “With the online shopping market growing so quickly and breaking through the billion dollar mark, Singaporeans are clearly finding great value and a wide range of products and services on the Web, be it on domestic or overseas websites. The study results prove to local merchants that they should embrace a multi-channel approach for both in-store and online retail experience, with mobile as an emerging platform, in order to be wherever their customers are.”

 

Fashion, beauty and lifestyle is 26% share of all categories

While the travel category is tops, it only accounted for S$307 million or 28% of the online shopping market in Singapore. Other key online shopping categories include: Fashion/Beauty (S$146 million, 13% share), Entertainment/Lifestyle (S$143 million, 13% share), IT/Electronics (S$117 million, 11% share), General Insurance (S$83 million, 8% share), and Gifts/Collectibles (S$75 million, 7% share).

Significant growth of mobile commerce in Singapore

4 out of 10 online shoppers in Singapore are willing to make a purchase on their mobile phones. More importantly, nearly 6 out of 10 of the high income group would be interested to do so.

More information about e-commerce in Singapore

http://www.penn-olson.com/2011/03/30/the-stats-and-facts-of-online-shopping-in-singapore