Over the last 5 years, Singapore has witnessed a significant upsurge in e-commerce activity with the online shopping industry breaking the billion dollar mark and becoming a force to reckon with for local retailers. It has encouraged them to open the gates to a multi-channel experience for its customers so that their collective local and online presence can reach a much wider audience.
Thanks to the innovation of smartphones, tablets and ultrabooks, internet connectivity has become one of the core cogs turning the gears of the world. A life without it seems impossible to envision at this point and just in case we have to compromise on it, it will be nothing short of living in another iteration of the Dark Ages. Singaporeans jumped on the e-commerce bandwagon when it was picking up just before its popularity rocketed from supersonic to light-speed. The immense diversity in online products merged with the uber-convenience offered by mobile devices has helped a huge number of e-commerce startups based in Singapore take off successfully.
Today, we will take a look at the six champions and rising contenders in the Singapore e-commerce arena that are taking shoppers by storm:
Reebonz / Kwerkee – Since its inception in early 2009, luxury products and service platform Reebonz has become a premier online shopping destination for Singaporeans. Apart from offering hefty discounts for a variety of products such as premium handbags and luxury travel packages, it also offers free shipping for all orders. They even go to the extent of fulfilling any custom duty and tax obligations that arise during overseas shipments.
Reebonz recently managed to acquire a promising investment via Singaporean media giant MediaCorp amounting to $40 million. Reebonz has also put tremendous focus in other segments by launching Kwerkee – an e-commerce portal that sells a variety of novelty household items and gadgets. Earlier this year, they also bought out another online luxury product retailer Clout Shoppe to further consolidate its presence in the luxury shopping market.
Qoo10 – Known to its loyal fanbase as Gmarket once upon a time, this powerful e-commerce portal has prospered immensely after negotiating a partnership with eBay. Qoo10 is essentially a colossal B2C marketplace that offers a host of products like electronics, groceries and clothing. They have integrated numerous payment gateways like PayPal, ENETS and AXS, and for good reason because shoppers will be highly enthusiastic to spend money when they see the bevy of discounts and promotional offers made available to them on a daily basis.
Bellabox – After starting off as a modest start-up in late 2011, this subscription-based cosmetics company has grown by leaps and bounds. They sell the finest range of cosmetics for both men and women at relatively affordable rates when put against the prices offered by most local retailers.
Bellabox has a unique subscriber model starting from S$19.95 and above that allows shoppers to lay their hands on a box full of hand-picked cosmetic products every month. After a satisfactory trial of this mixed bag, customers can choose to order their favourite products from the bunch via the Bellabox portal, which houses beauty products from over 250 brands.
Redmart – Kicking off in 2011, Redmart has emerged has the preferred online grocery shopping destination for thousands and thousands of busy Singaporeans. The Redmart platform offers an assortment of more than 8,000 products in the groceries and household item categories. All you have to do is whip out your credit card, make your selection and complete the transaction. Voila! Groceries will be delivered at your doorstep without demanding a minute out of your hectic schedule.
Clozette.co – Established in late 2010, Clozette.co was introduced as a unique online shopping platform with a social edge targeting women as its core customer base. After completing a couple of funding rounds that netted them nearly $4 million worth of investment, Clozette.co looks poised to expand its 300,000 member-strong fanbase further.
Apart from being able to make your pick from a bunch of great curated brands, members can also interact with fellow fashion enthusiasts by sharing their online personal closets and discover hot new trends. Bazaar is another fantastic offshoot for customers as well as budding fashion designers and retailers to buy and sell items amongst each other.
Wego – Wego is one of the few Singapore-based e-commerce startups that has earned quite a bit of mainstream recognition over the last few years. This online travel portal and metasearch engine hosts a huge number of localised sites catered explicitly for markets in India, Dubai, Vietnam, Indonesia and China.
Powered by an algorithm that searches over 700 travel sites, users can access curated travel info that allows them to compare rates for flights, hotels and activities. Users can then input their travel requirements and opt for suggested travel offers from a number of top online travel agencies.
After reviewing these successful online shopping sites, you now know who to go to for certain services! However security is still a concern for most online shoppers, and shipping fees may be a turn off too. Stay tuned for our hacks and tips to save more on shopping online.
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