TOP E-COMMERCE SITES IN SINGAPORE 2021
Tan Ee Shuen Michelle | 19 May 2021
The top e-commerce sites in Singapore of 2021 are flourishing in terms of online traffic which provides sellers with more exposure for their businesses.
This is especially due to the current Covid-19 crisis which led to more consumers preferring to shop online rather than physically.
In Singapore, there are several online marketplaces that have made a name for themselves which you’ve definitely heard of. The online traffic they have garnered is immensely high (as seen in the graph below). As a result, sellers benefit a lot through their platforms. What is it exactly that spurred the success of these marketplaces?
Keep reading to find out how the top e-commerce sites in Singapore 2021 got to where they are today.
In first place, Shopee has been leading in Singapore’s online shopping market. As a latecomer to the e-commerce battleground, they utilised several effective strategies to get to where they are today.
Instead of first launching a website, Shopee embarked on reaching the mobile user market by launching their application first.
Most importantly, the app makes mobile shopping convenient with its user-oriented interface which is easy to navigate. It also integrates live-streaming and ‘shoppertainment’ in the form of games for users to win coins to redeem for purchases.
Next, another key success factor is localisation. Shopee uses stand-alone applications for each of the 7 countries they operate in, attracting more customers as the apps cater to the specific characteristics of each country. For example, the purchasing decisions of customers in Thailand and Vietnam markets are greatly affected by celebrities. This is why Shopee engages celebrities like Black Pink and Cristiano Ronaldo for these countries’ campaigns.
As a relatively new e-commerce startup, Shopee is doing extremely well with their strategies and campaigns while remaining at the top.
Next, we have Lazada, which has been around for 3 more years than Shopee. Lazada started up when e-commerce was new to the industry. It slowly won customer trust by building up a logistics and cash-on-delivery network from scratch.
Alibaba played a pivotal role in Lazada’s success after acquisition by arming Lazada with the most up-to-date e-commerce technology infrastructure, which accelerated innovation, contributing significantly to its growth.
In particular, an initiative that was implemented with the help of Alibaba is Project Voyager, a technology stack that powers Lazada with the most scalable and competitive product and technology solutions.
Together with Alibaba, Lazada is able to leverage on partners such as Tmall Global, AliExpress, and Cainiao Network. Working closely with these partners enables them to progress steadily to the global stage.
Lazada also uses ‘shoppertainment’ in the form of games and live-streaming, adding on to the user experience.
Having lost its lead to Shopee in the e-commerce market, Lazada has been sparing no effort in extending its reach to customers in order to reclaim their original spot with the support of Alibaba.
Finally, Qoo10 comes in third for online traffic in Singapore. It operates 7 localised online marketplaces in 5 different countries.
Users turn to Qoo10 for heavily discounted items and the wide range of products available. Interestingly, the cluttered interface of the website can be seen as one of Qoo10’s unique features. This visually overwhelms users with the amount of ongoing promotions and could entice them to purchase during sale periods.
In 2019, Qoo10 set up a separate marketplace, QuuBe, using blockchain technology. Blockchain reduces running costs by removing fees charged to merchants for selling products on the site. It also increases trust as the distributed ledger technology allows for participants to easily trace transactions from start to finish.
QuuBe was said to have been set up to counter Alibaba and Qoo10 has been just slightly behind Lazada in terms of online traffic. Being the first company to go all in on blockchain technology, there is definitely a huge risk involved. However, Qoo10’s founder is optimistic that blockchain will benefit the company tremendously.
Whether Qoo10 will be able to surpass its competitors one day is something worth looking out for.
FOR YOUR BUSINESS
In summary, these top e-commerce sites are here for you to make full use of to grow your brand. We are here to help you do just that. 3D Omni Commerce is an integrated “all-channel” online store to help you synchronise prices, orders, inventory and more to the top 3 online marketplaces in Singapore. Connect with us today!