Lazada, a Southeast Asian e-commerce giant headquartered in Singapore, has performed very well in other Southeast Asian markets, especially in the Philippines, Malaysia and Thailand, but has performed mediocrely in Singapore. On the contrary, Qoo10’s traffic is much higher than Lazada. Lazada developed two years later than Qoo10, which may be one of the important reasons why Qoo10 can be relatively stable.
In addition, among online shoppers in Singapore, the proportion of women is higher than that of men, and the purchase frequency of women is much higher than that of men. At present, Qoo10 focuses on the beauty and fashion fields, which to a certain extent has gained more female consumers for the platform.
Currently, Qoo10 has opened up the market in many countries and regions in Asia, but it is only recruiting merchants for the Singapore site for the time being. Although Singapore has a small population, its economic development is very good. As the largest e-commerce platform in Singapore, Qoo10 has huge traffic, and its sales and profit margins are also very good. The platform’s advantageous categories are fashion, 3C, and beauty. These three categories are the platform’s hot-selling, but in different time periods, the platform will mainly recruit and promote other products.