| Singapore as a potential market is a good choice for dropship watches Singapore’s largest ecommerce platform Lazada has grew fast in the past few years. Do you know about this market? Let’s jump in this article.
1.The ecommerce market of Singapore
From the Key Insight we can see that 3/4 of Singaporean shoppers buy online at least once a month. Lower prices and promotions are the main drivers of online shopping in Singapore. Credit card is Singapore\'s the first payment method, which is loved by 80% of shoppers.
Lazada is the most popular ecommerce platform in Singapore. Lazada Singapore had 4.6 million online views. The platform Zalora ranked the second behind Lazada, with a traffic volume of about 1.27 million.
Lazada is headquartered in Singapore. They had launched a new website with its parent company Alibaba(taobao.lazada.sg), providing part of the products directly from Taobao to Singaporean consumers.
There are a main reason for the launch of Taobao English in Singapore. Singaporean consumers have already bought products on Taobao\'s Chinese platform. However, due to translation problems, there are a series of problems, such as payment, delivery and return.
2.Digitized buying behavior
Singapore is a small and rich city with well-developed digital infrastructure. Therefore, consumers here are accustomed to doing various activities online, including browsing products and services. The results of the vote from EY showed 83% of Singaporeans regard Internet as the first choice to search for new product information.
According to the data research, more than 3/4 of Singaporean digital shoppers said they should purchase at least once a month, 30% at least once a week.
Price is the main driving force that affects the consumers in Singapore. SingSaver and ShopBack survey conducted a research showed that 72.2% of Singaporeans would make digital purchases when the prices of online goods were lower than those of off-stores.
Clear product information and efficient delivery are also factors that lead consumers to purchase, accounting for 63.3% and 59% respectively.
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