On December 11, 2019, at the Amazon Global Store Cross-Border Summit, Amazon announced its China strategy for opening Amazon Global Stores in 2020, and announced that it would open its Singapore site to Chinese sellers. From then on, Amazon officially opened the Singapore site. Although many sellers are eager to try, they do not have a comprehensive understanding of the Singapore site. This article will help sellers analyze the characteristics of Amazon Singapore.
1. High Internet penetration rate.
According to professional data surveys, Singapore’s Internet penetration rate has increased year by year. From early June 2018 to early November 2018, the 4G penetration rate of Singapore’s three major operators increased from 82. 6% to 871%, an increase of more than 4% in just half a year. Among them, M1’s 4G penetration rate increased by 1. 6%~90%. Therefore, Singapore’s overall Internet penetration rate is very high, which is very suitable for the development of the online shopping market.
2. Characteristics of consumer groups.
According to survey data, most online shoppers in Singapore are between the ages of 25 and 34, accounting for about 38% of the total consumer group, while consumers aged 35 to 44 are the second largest group, accounting for 27%, and the third largest group is students aged 18-24, accounting for 14%. It can be seen that the overall consumer group of Singaporean websites is the younger generation, and sellers have more room to play in the demand of young people for the online shopping market. Among them, consumers aged 25 to 34 pay more attention to discounts and promotions.
3. Shopping characteristics.
Singaporeans are more likely to buy lower-value goods online, including travel products (64%), clothing and shoes (57%), and entertainment products (48%), followed by beauty products 38%, electronic devices 32% and books 31%. For home appliances, sports products and other high-value products, Singaporeans prefer to buy offline.
4. Payment method
Unlike other parts of Southeast Asia, credit cards are the preferred payment method for most online shoppers in Singapore.