Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here. The e-commerce market in Singapore is expected to be worth US$5.4 billion (S$7.46 billion) by 2025. With one of the highest internet penetration rates in the region at 82%, Singapore will continue to lead the way in Southeast Asia. The arrival of Amazon into Southeast Asia, starting with Singapore last month, was met with overwhelming demand for their Prime Now service. Also, CapitaLand announced last Wednesday (Aug 23) their strategic alliance with China’s Alibaba to manage its new Shanghai headquarters and launch an online mall on Lazada Singapore. In the midst of this highly contested market, iPrice has released their first interactive e-commerce study, comparing 31 e-commerce websites in Singapore. Users can filter e-commerce information based on different parameters such as traffic (based on SimilarWeb), application downloads, and social media followers. The data was gathered from April to July 2017. Here are four interesting findings.
1. Qoo10 is the King of Singapore E-commerce TrafficThe king of e-commerce in Singapore in terms of traffic is Qoo10 with 8.4m average monthly visits, according to SimilarWeb. The Giosis owned ecommerce site recorded nearly double the traffic of Alibaba-backed Lazada. This maybe because Qoo10 established themselves in Singapore earlier than Lazada. Although Qoo10 reigns supreme in the traffic arena, there are other parameters that other e-commerce merchants stand strong on.
- The highest number of Instagram followers is Love, Bonito (122,000 followers) Love, Bonito a local blogshop turned fashion retailer has the highest number of Instagram followers. This may be due to their social media strategy for acquiring customers predominantly through photos showcasing their line of clothing on the platform.
- The highest number of Facebook followers is Lazada (18.1m followers) Despite Qoo10’s high traffic numbers, Lazada triumphs over them with the strongest Facebook base in Singapore.