As the only developed country in Southeast Asia, with the development of the Internet economy, Singapore’s cross-border e-commerce industry has been greatly expanded, attracting the attention of many domestic entrepreneurs. So, let’s learn about cross-border e-commerce in Southeast Asia and Singapore What is the market development potential?
1. The development potential of Singapore’s cross-border e-commerce market in Southeast Asia.
1. Strong consumption power and convergent consumer demand.
1) Singapore is one of the richest countries in the world, 126.4% higher than the world average.
2) Singapore’s e-commerce transaction size has reached US$5 billion, but the entire industry continues to grow.
3) 74% of Singapore’s population is Chinese, so Chinese sellers can better understand the demand. Singapore’s consumer demand is similar to the demand of domestic consumers. For example, the sales of goods during the Spring Festival will also have a huge market in Singapore. Market demand.
2. High penetration rate of the Internet and a good e-commerce business environment.
The development of e-commerce is inseparable from the popularity of the Internet. Among Singapore’s three operators (M1, Singtel and StarHub), M1’s 4G penetration rate has increased the most, increasing by 1.6%, reaching 90% .
2. Which cross-border platform is easier to do?
At present, the two most popular cross-border e-commerce platforms in Singapore are Amazon and Shopee. Amazon has recently carried out support activities for the Singapore site, such as high Fulfillment by Amazon (FBA) coverage and support for one-day delivery. The site has also established a logistics center of more than 15,000 square meters and provides Prime members with hundreds of thousands of one-day products. Deliver products. In addition, Amazon also launched the “Amazon
Prime” and “Amazon Prime
Now” service. At the same time, Amazon also has a 0 yuan declaration activity, which means that sellers can declare all traffic diversion activities for free within 6 months after settling in, including today’s flash sales, limited time sales, store treasures, Prime membership exclusives, etc.
However, the later maintenance of the Amazon platform is relatively complicated and it faces fierce competitive pressure. Compared with other cross-border e-commerce platforms, shopee is more reliable because it is an emerging platform and a large domestic company. For example, Tencent is also behind it. In addition, shopee is specially designed for Southeast Asia, and its product selection is relatively universal. At this stage, shopee has no entry fee, and the operation is convenient and simple. Novices do not need to pay commissions to the platform in the first three months. Therefore, for For those who want to test the waters on the cross-border e-commerce platform, shopee is the first choice for low cost and high efficiency.
The above introduces the relevant knowledge about the development potential of the cross-border e-commerce market in Southeast Asia and Singapore. , Singapore is not only the financial center and international trade transit point in Southeast Asia, but also a relatively mature e-commerce market in Southeast Asia. Sellers operating overseas in Singapore can not only acquire new consumers, but also increase their brand influence and accelerate their global layout. Which platform’s Singapore website recommends that merchants apply to register the country’s trademark in advance. Only by obtaining trademark registration can they avoid the risk of infringement, improve product packaging and build corporate brands, giving enterprises greater room for development.