Lazada was once again Singapore’s most popular e-commerce platform in the fourth quarter of 2019, according to a report released by iPrice Group in collaboration with App Annie and SimilarWeb.
The report shows that Lazada has the highest monthly web visits, followed by Qoo10 and Shopee. Meanwhile, Shopee maintained its position as the most-visited e-commerce app, garnering more than two billion visitors across Southeast Asian markets.
Challenging two regional unicorns, Qoo10, which was formerly known as Gmarket, was the second most visited e-commerce site for three consecutive quarters, acquiring almost 30% of online shopping web traffic in Singapore as of 2019, the report says. Its app was the third most popular consumer e-commerce app in the fourth quarter, down one rank from the previous quarter.
Interestingly, the new kid on the block, Amazon.sg, has successfully leapfrogged to become the fourth most visited e-commerce website within three months after going online. The American tech giant launched its Singapore site in October 2019, marking its first move in the Southeast Asian market. The report suggests that Amazon’s localization strategy to tailor their products to Singaporeans is the reason behind its popularity.
Amazon is mounting a challenge against homegrown competitors in Singapore. The company is likely to feed the demand of consumers in the city-state this year, thanks to its massive inventory that is available for local and international shipping.
Singapore’s e-commerce sector is expected to be worth SGD 9.8 billion (USD 6.8 billion) in 2025, a 22% increase from 2015, according to the e-Conomy Southeast Asia 2019 report by Google, Temasek Holdings, and Bain & Company. The country has the highest average basket size in Southeast Asia.
iPrice said that shoppers in the city-state had an average basket size of SGD 110 (USD 77) during last year’s Single’s Day sales bonanza. The abundance of promotions and marketing initiatives from various companies contributed to consumers’ high spending compared to the rest of the region. In addition, since the country’s tech infrastructure is more mature, the average order values in Singapore’s e-commerce sector are three to four times higher than its neighboring countries, the report said.
