Singapore has shown strong momentum in the cross-border e-commerce sector, with a cross-border shopping penetration rate of 69%, ranking first in the world. Data shows that 98% of Singaporean consumers are willing to shop overseas, far exceeding the global average, and 69% of them make cross-border purchases at least once a month.
Singapore has shown strong momentum in the cross-border e-commerce sector, with a cross-border shopping penetration rate of 69%, ranking first in the world. Data shows that 98% of Singaporean consumers are willing to shop overseas, far exceeding the global average, and 69% of them make cross-border purchases at least once a month.
In terms of consumption structure, the Asia-Pacific region and European and American countries are the main sources of cross-border shopping for Singaporeans. Fashion, beauty products, 3C products and food and beverages have become core consumer categories. In terms of shopping channels, 87% of transactions are completed through mainstream e-commerce platforms such as Amazon and Lazada.
Consumers have strict requirements on the transparency of cross-border shopping. 97% of users pay attention to the rationality of freight costs, and 96% attach importance to payment security. The payment methods present a diversified pattern, with credit cards used by 71%, digital wallets accounting for 52%, and emerging payment methods such as "buy-now-pay-later" also gradually becoming popular. In addition, 93% of consumers will plan for concentrated purchases during promotional seasons in advance. Analysts believe that merchants can better seize the dividends of Singapore's cross-border e-commerce market if they can optimize the mobile payment experience and improve cost transparency.
