Singapore B2C E-Commerce Market 2017 code:1317

Singapore B2C E-Commerce Market 2017
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Singapore
Pages: 72
Publication Date: 19/04/2017
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Questions Covered in the report:
  • How large were the E-Commerce sales in Singapore in 2016 and what are the predicted growth rates?
  • What is Singapore’s rank in Southeast Asia by E-Commerce market size and penetration?
  • What are the main trends driving the growth of online retail in Singapore?
  • Which payment and delivery methods are most demanded by Singaporean online shoppers?
  • Who are the leading E-Commerce market players in Singapore?

Key Findings:

Singapore is the most advanced B2C E-Commerce market in Southeast Asia, and is still growing

Singapore is one of the smallest countries in the region in terms of population, but had the third largest B2C E-Commerce market in 2016 due to a well-developed infrastructure, high rates of Internet connectivity and affinity of consumers to online shopping. More than three-quarters of individuals in this country have Internet access and Internet connection speed is the highest among the five major Southeast Asian countries, according to the findings in yStats.com’s report. A high double-digit share of adult Internet users made purchases online in 2016, driven by factors such as lower prices compared to offline stores and the ability to access items not available in Singapore from Internet merchants abroad.

A high share of cross-border imports is an important characteristic of Singaporean E-Commerce market. More than 50% of online shoppers made purchases from abroad, with cross-border E-Commerce platforms in China and the USA such as Alibaba and Amazon being the main destinations, according to statistics cited in this report by yStats.com. Another important market trend is the growth of M-Commerce, spurred by wide access to mobile Internet technology which accounts for nearly all mobile phone connections in the country.

Whether Singaporean online shoppers buy from local or foreign online merchants, fashion items are the most demanded product category. Among the products with the fastest predicted growth rate in 2017 are household goods and groceries. Online shoppers with a high monthly income were especially likely to shop for groceries online, as yStats.com’s report reveals. The country’s major E-Commerce competitors took notice of this trend, with online retailer and marketplace operator Lazada acquiring online grocer RedMart in 2016.

Overall, the B2C E-Commerce market in Singapore is the most advanced of the top five Southeast Asian nations, as signaled by the highest online share of total retail sales. Nevertheless, the market is far from reaching its full potential, with double-digit growth rates predicted through 2025.

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1. Management Summary

2. Overview & International Comparisons

  • Overview of B2C E-Commerce Market and International Comparisons, March 2017
  • B2C E-Commerce Sales in Southeast Asia, by Country, incl. Singapore, in USD million, 2015
  • Total Retail Sales and Retail E-Commerce Sales, in USD billion, and E-Commerce Share of Total Retail Sales, in %, in Southeast Asia, by Country, incl. Singapore, 2016e
  • B2C E-Commerce Sales in Southeast Asia, by Country, incl. Singapore, in USD billion, 2015 & 2025f
  • B2C E-Commerce Share of Total Retail Sales in Southeast Asia, by Country, incl. Singapore, in %, 2015 & 2025f
  • Online Hotels and Airlines Sales in Southeast Asia, by Country, incl. Singapore, in USD billion and in % of Total Hotels and Airlines Sales, 2015 & 2025f, and CAGR, in %, 2015-2025f
  • Online Rides Sales in Southeast Asia, by Country, incl. Singapore, in USD billion, 2015 & 2025f, and CAGR, in %, 2015-2025f
  • Internet Penetration in Southeast Asia, by Country, incl. Singapore, in % of Individuals, 2015
  • Average Fixed Internet Connection Speed in Southeast Asia, by Country, incl. Singapore, in MBPS, Q2 2016
  • Internet Users in Southeast Asia, by Country, incl. Singapore, in millions, 2015 & 2020f
  • Number of Internet Users Who Research Products or Services Online, by Country, incl. Singapore, in millions, 2015
  • Breakdown of Online Shoppers in Southeast Asia by Buying From Mobile Phone and From Other Devices, by Top Cities and Other Areas, by Country, incl. Singapore, in %, November 2015
  • Breakdown of Online Shoppers in Selected Countries in Asia, incl. Singapore, by Domestic Shoppers Only, Domestic and Cross-Border Shoppers, and Cross-Border Shoppers Only, in %, October 2016

3. Trends

  • Overview of B2C E-Commerce Trends, March 2017
  • Breakdown of Online Shoppers, by Domestic Shoppers Only, Domestic and Cross-Border Shoppers, and Cross-Border Only, in %, October 2016
  • Breakdown of Cross-Border Online Spending by Countries, in % and in SGD million, 2016e
  • Share of Online Shoppers Who Buy from Out-of-Country Online Retailers Due to Better Prices, in %, June 2016
  • Top 3 Product Categories Purchased Cross-Border, in % of Cross-Border Online Shoppers, June 2016
  • Number of Mobile Phone Subscriptions by 2G, 3G and 4G, in thousands, 2011-2016
  • Breakdown of Devices Used for Research and Purchase Online, in % of Online Shoppers, September 2016
  • Share of Smartphone Users Who Bought a Product or Service Within an App, in %, and Share of Online Shopping Done Through Mobile Apps, in %, June 2016
  • M-Commerce Share of B2C E-Commerce Sales, in %, 2011 – 2015
  • Average M-Commerce Share of Online Spending, in %, 2016
  • Drivers and Barriers to Mobile Purchases, in % of Mobile Shoppers, August 2016
  • Share of Internet Users Who Would Shop More at Online Retailers if They Provided Similar Loyalty Benefits as Traditional In-Store Retailers, in %, and 5 Most Appealing Loyalty Features, May 2016
  • Share of Online Shoppers Who Discover New Products through Social Media Channels, in %, August 2016

4. Sales & Shares

  • B2C E-Commerce Share of Total Retail Sales, in % and in SGD billion, 2016
  • Retail E-Commerce Sales, in SGD billion, 2016e & 2017f
  • Retail E-Commerce Sales, in USD billion, and Share of Total Retail Sales, in %, 2015 – 2020f
  • B2C E-Commerce Sales, in USD billion, and Share of Retail Sales, in %, 2015 & 2025f

5. Internet Users & Online Shoppers

  • Internet User Penetration, in % of Individuals, 2010 – 2015
  • Number of Broadband Subscriptions by Type, in thousands, 2011-2016
  • Online Shopper Penetration, in % of Adult Internet Users, 2016
  • Factors that Encourage to Buy Online, in % of Online Shoppers, 2016
  • Average Monthly Online Spending, in SGD, by All Online Shoppers and Online Shoppers with Monthly Income of SGD 4,000-5,000, 2016
  • Top Motivations to Shop Online, in % of Online Shoppers Aged 15-35, June 2015
  • Breakdown of Monthly Online Spending in SGD, in% of Online Shoppers Aged 15-35, June 2015

6. Products

  • Product Categories Purchased Online, in % of Online Shoppers Aged 15-35, by Gender, June 2015
  • Top 3 Product Categories by Rank Purchased by Online Shoppers, by Monthly Income, 2016
  • Expected Growth of Online Spending in Selected Product Categories, in %, 2017f vs. 2016

7. Payment

  • Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016
  • Breakdown of Credit Cards Used in Online Shopping, by Credit Card Network and Credit Card Issuer, in % of Online Shoppers Paying with Credit Card, 2016
  • Breakdown of Payment Methods Used in Online Shopping, in % of Online Shoppers Aged 15-35, June 2015

8. Delivery

  • Top 3 Delivery Options, in % of Online Shoppers, June 2016
  • Share of Online Shoppers Who Buy from Local E-Commerce Sites Because of Delivery Considerations, in %, September 2016
  • Top Loyalty Program Rewards or Benefits Valued the Most, incl. “Free Shipping”, in % of Internet Users, March 2016

9. Players

  • Overview of B2C E-Commerce Players, March 2017
  • Top 5 E-Commerce Websites, incl. Total Website Visits, in millions, and Singapore’s Share of Total Visits, in %, and Estimated Number of Website Visits from Singapore, in millions, February 2017
  • Top 10 Local B2C/C2C E-Commerce Websites, incl. Total Website Visits, in millions, Singapore’s Share of Website Visits, in %, and Estimated Number of Visits from Singapore, in millions, February 2017
  • Top 5 Retail Website Properties by Number of Unique Visitors, in thousands, December 2015
  • Share of Online Shoppers Who Would Buy Less from E-Commerce Sites They Currently Shop With if Amazon Launched a Singapore-Based Site, by Selected E-Commerce Sites, in %, November 2016
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  • Amazon.com Inc
  • Alibaba Group
  • MasterCard Inc.
  • Visa Inc.
  • Paypal Inc
  • Lazada Group
  • Giosis Pte. Ltd.
  • RedMart Ltd.
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