Investment Immigration to Singapore Learn about life in Singapore: It is no secret that Singaporeans love shopping. Whether during the annual sales or at various large exhibitions, many Singaporeans flock to shop. With the development of e-commerce, Singaporeans have shifted their shopping enthusiasm to online stores.
Singaporeans are most keen on purchasing lower-value items online, such as shoes, clothing, and bags. Surveys have found that nearly half of Singaporeans indicate they would buy all the items they need online.
With the widespread use of mobile devices and electronic technology, QR codes, contactless payments, and mobile online shopping have become familiar to the public in Singapore. The number of Singaporeans shopping online is rapidly increasing, and they have been dubbed the most enthusiastic online shopping group in Southeast Asia.
According to Visa's 2014 Consumer Payment Attitude Study, if conditions allow, 50% of Singaporeans would buy all their needed items online. Individuals aged 25 to 44 shop online most frequently. Among those aged 25 to 34 and 34 to 44, 53% and 44% respectively shop online at least a few times a month. The study also shows that 30% of online shoppers make at least one online purchase each week.
Clothing and shoes are the most frequently purchased products by Singaporean consumers online, with average spending exceeding $250 and $180 respectively. However, Singaporeans tend to prefer purchasing lower-value items online, while for high-value products such as watches, optical products, home electronics, and sports equipment, they prefer to shop in physical stores.
This year's "Double 11," the world's craziest online shopping day, saw a 450% increase in the number of people using Visa cards for online shopping. In Singapore alone, confirmed online orders on that day increased by 250% compared to the same day in 2013. Like the Chinese, the majority of Singapore's Chinese population is also keen on shopping on Taobao during "Double 11." It is reported that Alibaba Group has launched two platforms, "Taobao Overseas" and "AliExpress," which currently cover 220 countries and regions, targeting overseas expatriates and the Chinese market. Currently, both platforms have achieved full coverage of 20 APEC member economies outside of mainland China.
With the increase in online stores and the widespread use of mobile shopping apps, online shopping has become a common phenomenon. Technology has brought convenience, allowing people to avoid the hustle and bustle of the city while still being able to purchase the items they need. Why not?
Online shopping is becoming increasingly popular in Singapore, with the volume of e-commerce transactions using Visa cards increasing by 19% annually. In contrast, in October of this year, face-to-face transactions using Visa cards only increased by 6% compared to the same period last year.
As technology advances, the boundaries between online shopping and physical store shopping are beginning to blur. More and more businesses are developing apps to expand their operations to online platforms, and even Instagram has added shopping features.
Apps such as Line Shopping, Groupon, and Qoo10 have emerged in large numbers, increasing the convenience of shopping, which explains the significant increase in daily online transaction volumes. Convenience, affordability, and fast delivery are the three main reasons Singaporeans choose to shop online.
So far, travel is the primary online consumption item for Singaporeans. Surveys show that over 51% of internet users purchase plane tickets online, and over 46% book hotels online. The second most popular items are music tickets and sports event tickets.
Singaporean customers enjoy shopping on Chinese e-commerce sites like Taobao and Tmall, purchasing not only clothing but also items like shampoo and cosmetics. A survey from Taobao indicates that Singaporean consumers are keen on buying down jackets on Taobao, which they need to wear while traveling abroad, as such items are rarely found in the local market of tropical Singapore.
