Singapore maintains lead as B2C e-commerce hub in SE Asia: Research & Markets Report

Wii points purchase. Credit: Flickr/James Box

Riding on high internet penetration and advanced payment systems, Singapore, the city-state counted among the best global business environments, has retained its status as a hub for business-to-consumer e-commerce activity for 2015 in the region.

A 2015 report from Research & Markets notes that Singapore, which ranked highest in Southeast Asia in B2C E-Commerce sales in 2013, remains stable despite a comparatively small population of 5.5 million. The online retail market in Singapore is considered to be relatively advanced with online shopper penetration accounting for over 50 per cent of Internet users, with the online share of total retail being the highest in its sub-region.

With more vastly populated neighbours (Indonesia, the Philippines and Thailand) starting to develop B2C E-Commerce capabilities, Singapore is projected to lose its leading position in B2C E-Commerce sales volume to them.

Also Read: Singapore Data Centre Dealbook: Alibaba invests $1b in Aliyun; Equinix to expand SG data centre

Important online retail trends in Singapore include cross-border online shopping and the evolution of omni-channel retail, with an estimated two- thirds of online shoppers in Singapore making cross-border purchases at least once a year as of early 2015.

Increasingly, brick & mortar retailers are finding omnichannel retail to be of increasing importance in mature markets like the US. This is due to fact that consumers use mobile devices to shop, research products online and purchase them in-store, as well as other changes wrought on consumer behaviour by smartphones. This trend led to Singapore-based online clothing retailer Zalora to open a pop-up store in October 2014.

Global online players such as Amazon.com, eBay.com and Alibaba Group’s marketplaces are among the most visited e-Commerce websites in Singapore. Other prominent players in the e-commerce space include Giosis, which operates online marketplace Qoo10, the most popular online shopping destination in Singapore as of July 2015. Giosis raised a multi-million dollar investment in the summer of 2015 and so did online grocery retailer RedMart. Meanwhile, Singapore Post has received investment from Alibaba Group and continued to expand its e-Commerce capabilities.

Related Stories: SingPost continues acquisition spree, picks up stake in two HK companies

Alibaba to invest S$187.1m in SingPost, to raise stake to 14.51%

SingPost unit buys 80% of FPS Rotterdam for $9.2m

Singpost acquires 30% in Australian e-commerce Hubbed for $3.32m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.