Singapore'S Electricity Supplier Market Presents Three Major Trends

Today, foreign companies such as Messi's department store are constantly penetrating into the Singapore market through their online platforms. However, Singapore's main chain retailers such as Robinson are still lingering on the road of e-commerce.

According to the August 20th report, Lin Leon is a programmer of IT company who left the company in 2012 and started her online retail business. He registered a Since VT Fashion online shop in Singapore's online retail platform Qoo10, selling all kinds of fashions.

Mr. Lin's online store is growing at a rate of 30% per month. A year later, its monthly sales exceeded 6 digits.

Today, there are 68000 registered sellers on Qoo10, most of whom are small retailers like Mr. Lin. Through this platform, these small retailers can reach more customers and enhance their brand image.

Qoo10 is just a part of the wave of electricity suppliers sweeping the globe. The total number of online retail sales has exceeded $1 trillion and 500 billion this year, according to a report by E-Marketer, a marketing magazine. Forrester, a consultancy, said that the size of the e-commerce market in the Asia Pacific region will double in 2018, from $398 billion last year to $854 billion.

Singapore Electronic Commerce It is not backward. PayPal, the payment company, said Singapore's total online retail sales will increase from $1 billion 100 million in 2010 to $4 billion 400 million next year. The rapid development of e-commerce market in Singapore is inseparable from the birth of some new e-commerce platforms, which are different from those of the early pioneer of e-commerce, such as Amazon and eBay.

These e-commerce platforms include online retail website Clozette and ordering service website Vanity Trove. Vanity Trove, the main supplier of cosmetics, has a fixed monthly charge, sending a box of cosmetics regularly to consumers. Its mode is somewhat similar to that of North America's "custom box" business.

Redmart, a joint founder of the online retail platform, said that the differentiation of the electricity supplier market is becoming more and more obvious. Many different types of e-commerce enterprises are rising and constantly improving the ecosystem of Singapore's e-commerce.

Insiders say there are three trends in the e-commerce market in Singapore.

The first is mobile providers. The increasing popularity of smart phones means that more people will use their mobile phones to access the Internet, so all e-commerce companies should formulate their own strategies for mobile e-commerce, otherwise they will lag behind others.

PayPal's report last year showed that Singapore's mobile business grew from $43 million in 2010 to $328 million in 2011. In the Asia Pacific region, the total market for mobile e-commerce will reach US $681 million.

Ralf Wenzel, chief executive of group buying Groupon, recently stayed in Singapore. He pointed out that Singapore has an average of 1.5 smart phones per person. "By 2019, half of the world will have a cell phone, and this trend will inevitably affect e-commerce." Nowadays, even in less developed countries, people who buy mobile phones are more than those who buy computers and televisions.

Second, the trend of e-commerce is to sell fresh foods online, including meat, dairy products, vegetables and so on. Traditionally, it is difficult to make fresh electricity suppliers, because different foods have different reserve requirements and temperature control is different.

Even in the face of various difficulties, Redmart is still facing difficulties. Trials of food preservation methods are currently being carried out, and fresh electricity suppliers are expected to be released by the end of the year. Eduardo Saverin, a Redmart platform investor, said that although some of the major chain supermarkets in Singapore also had fresh electric business, they were limited in scale and did not invest too much in this field.

The third trend is the development of online retailers. Offline business 。 MDS Collections, a fashion online retailer, has opened 10 stores, mostly in Singapore and some in Indonesia. It is understood that MDS Collections started from a blogger store, and then continued to grow in the east of the electricity supplier.

Its founder, Georgiana Yeo, sees that running a physical store is a good way to expand the audience area. Then she opened a lot of stores in places where people in the mall had a large flow and a good view. At the same time, MDS Collections also discussed franchising with dealers in Dubai, Kampuchea, Burma and Malaysia.

In the wake of the wave of e-commerce, Singapore's main chain retailers such as Robinson, Tangs and Challenger are also starting to take action.

However, some industry experts say that many large retailers in Singapore worry that if they vigorously open online retail business, they will cause similar food online, offline and business. However, American brands such as Messi's department store and Vitoria secret are selling goods to consumers in Singapore through their online retail channels.

In the past 15 years, the company has tried two times to do e-commerce business, but CEO and Ben have failed in the past two years, according to CEO Ben Tan of Singapore's chain retail companies. However, in December last year, Challenger once again launched a huge new business platform for its 50 member customers. "The purchasing behavior of these members will radiate to 2 million people, because they not only buy things for themselves, but also shop for their families, lovers and friends. Through e-commerce channels, we will interact better with them and provide them with more products. " He said.