2025年1月7日
Singapore Cross-Border Ecommerce: The Reality of Singapore Cross-Border Ecommerce in 2024! Market Trends and Ranking of Popular Sites!

Singapore is one of the leading economic powers among Asian countries.
As a result, many businesses are planning to expand into Singapore.
However, due to different business practices and regulations, it is a fact that few businesses are doing well.
Therefore, in this issue, I (Jia), a Singaporean who has lived in Singapore and worked as a marketing professional there, will provide a thorough explanation of the current state of cross-border EC in Singapore.
The Current State of Singapore's Cross-border EC Market

According to a JP Morgan survey, 50% of Singaporeans do not distinguish between local (Singaporean) and foreign products.
In other words, many people are comfortable buying goods made overseas.
Here, we will explain the actual status of cross-border EC in Singapore based on various surveys.
Characteristics of Singaporean EC (e-commerce) users
The number of EC users in Singapore is increasing, especially among the young and middle-income groups living in urban areas.
Smartphone penetration is high, and mobile EC use is active.
There is a tendency to emphasize convenience and good prices, and many purchases are made from overseas sites.
Strongly influenced by social media, many people refer to word-of-mouth information on social networking sites.
There is also a growing desire for improved services, such as diversified payment methods and same-day delivery. Overall, this segment is highly IT literate and has a strong interest in new EC services.
Reasons for the Growth of Singapore's Cross-border EC Market
The growth of Singapore's cross-border e-commerce market is supported by several factors
Internet and smartphone penetration: Internet usage in Singapore is at 92% of the population, and smartphone ownership is very high at 143%. In addition, about 90% of the population has visited an online store, and the e-commerce rate has reached about 60% by 2022. (Source.)
Impact of the new coronavirus outbreak: the spread of the coronavirus outbreak and the resulting strict lockdown policies have led to an increase in online shopping: in April 2020, about 17.8% of all retail sales were made online, with the online share of retail sales averaging in 2020 12.7% and increased to 12.2% in the first half of 2021. (Source: statista.com)
Economic growth and expansion of the e-commerce market: In Singapore, non-store-based sales are particularly growing, with the overall e-commerce market reaching approximately US$8.7 billion and an overall e-commerce conversion rate of about 13.2%. (Source: statista.com)
Growth Potential in Southeast Asia: The Southeast Asian region, including Singapore, has high growth potential. In particular, the EC markets of six Southeast Asian countries (Singapore, Thailand, Malaysia, the Philippines, Vietnam, and Indonesia) recorded a growth rate of 63% between 2019 and 2020. High growth rates of 20-30% are expected to continue in the future.
Diversification of payment methods: Singapore credit card and electronic payment methods are diversifying, and the trend is growing, with a majority of the population holding credit cards by 2021. (Source: statista.com)
These factors have led to significant growth in Singapore's e-commerce market, a trend that is expected to continue.
Singapore's cross-border EC hot sellers
The highest sales in Singapore's cross-border EC are in the "gadgets" category, with $650 million in annual sales.
The top-selling items in Singapore's cross-border e-commerce market are gadgets, with $650 million in annual sales.
Category | Annual Transaction Value | Popular products |
Communication gadgets | 650 million dollars | Pocket Wi-Fi |
Smartphones and phone cases | ||
Fashion | 640 million dollars | Dress |
Casual wear | ||
Cosmetics | 440 million dollars | Cosmetics |
DIY & Toys | 350 million dollars | Games |
Board games |
Whenever you are planning to develop cross-border EC in Singapore, it is important to understand the size of the market and its future potential.
*Source: commissionfactory.com
Cautions for cross-border EC in Singapore
The following are points to note when conducting cross-border EC in Singapore.
Regulations regarding data
Regulations related to products
Other EC-related regulations
Different countries have different rules.
Let's take a look at the regulations that you should be aware of that are unique to Singapore.
Data Restrictions
When operating an e-commerce site in Singapore, it is necessary to comply with the Personal Data Protection Act (abbreviated as PDPA) regarding the handling of personal information.
This law sets forth rules regarding the collection, use, disclosure, and processing of personally identifiable information, etc. When operating an e-commerce site, special attention should be paid to the following points
Clarify the purposes for which personal information is collected, and use personal information only within the scope of those purposes.
When collecting personal information, the company is obligated to obtain consent from the individual.
Appropriate security measures are taken against risks such as unauthorized access, leakage, and loss of personal information.
Certain conditions must be met for overseas transmission of personal information.
Respect the rights of the individual, including the right to request disclosure of personal information and the right to request correction or deletion of personal information.
Since sanctions such as a fine may be imposed for inappropriate handling of personal information, it is important to familiarize yourself with the provisions of the PDPA and ensure compliance. Compliance with this law is an essential requirement for developing an EC business in Singapore.
Regulated Handling Products
When operating an EC site in Singapore, it is necessary to comply with various regulations depending on the products to be handled. The main related laws are as follows
Regulates the import and export of weapons and military-usable goods.
Permits are required to trade in regulated items.
Regulates the manufacture, import, and sale of pharmaceuticals, medical devices, cosmetics, etc.
Prior approval by the Health Sciences Authority (HSA) is required for certain products
Misuse of Drugs Act
Regulates the import and sale of illegal narcotics and psychotropic drugs
Environmental Protection and Management Act
Regulates the import and handling of hazardous chemicals
Regulates importation of pets and animal products
Consumer Protection (Safety Requirements) Regulations
Restricts the sale of certain hazardous toys
Specific items subject to regulation can be found on the websites of the competent authorities such as the HSA, Customs, and the National Environment Agency.
E-commerce site operators are required to comprehensively check the products they handle and obtain the necessary permits. Violations are subject to fines and confiscation, so it is important to be careful.
Other Regulations Related to Cross-border EC
In addition, it is important to keep in mind the following laws that must be observed when conducting cross-border EC in Singapore.
Regulates the legal validity of electronic contracts, authentication of electronic signatures, and the obligation to preserve electronic records.
The purpose is to ensure legal security and reliability in electronic transactions.
Consumer Protection (Fair Trading) Act
Comprehensive law to protect consumers from unfair business practices and false advertising
Requires appropriate disclosure of information to consumers and invalidates unfair contract terms
Unfair Trade Practices Act singapore
Regulates unfair trade practices, false advertising, and misrepresentation by companies
Aims to maintain a fair competitive environment and protect the interests of consumers
Regulates business license system for used goods dealers and record-keeping requirements
Aimed at preventing the sale of stolen goods and conducting follow-up investigations
These laws must be observed in the operation of e-commerce sites, and violations are subject to sanctions.
In particular, the Consumer Protection Act regulates a wide range of areas, including the content of displays and conditions of sale.
We recommend that you consult with a specialist when conducting cross-border EC in Singapore.
Three popular EC sites in Singapore
Here we introduce five popular EC sites in Singapore. Please refer to them when utilizing EC platforms instead of your own EC.
Shoppee
(Resorce:shopee.com)
Shopee is an e-commerce platform that started in Singapore in 2015 and has since expanded its services throughout Southeast Asia, East Asia, and Latin America.
It started out as a C2C marketplace, but is now transitioning to a hybrid B2C model.
With low commissions and app gamification, Shopee has gained a large customer base, especially in the Southeast Asia region, outpacing other e-commerce marketplaces such as Amazon.
Shopee has a broad user base and is particularly popular in Southeast Asia. Indonesia, Brazil, Vietnam, Thailand, and the Philippines form the major user base, with approximately 60% of users in these countries.
Shopee offers a wide range of categories, including fashion items, home decor, electronic products, and beauty products.
For companies interested in the Southeast Asian market but not sure where to start, Shopee is the perfect platform to get started.
Lazada
(Resorce:lazada.com)
Lazada is an e-commerce platform founded in Singapore in 2012, serving all of Southeast Asia.
Singapore is one of Lazada's key markets and one of the leaders in the e-commerce market.
Singapore's e-commerce market continues to grow as Internet penetration and online payments increase, and Lazada is leading the competition by enhancing the online shopping experience by providing a particularly customer-centric service.
The range of products carried on Lazada is diverse, but the focus is on consumer goods, particularly clothing, electronics, and beauty products.
For Japanese companies opening a store on Lazada in Singapore, it is important to offer high quality and unique products.
The Singapore market has high expectations for quality, especially in beauty products, health foods, and high-tech gadgets, and consumers are looking for new trends and innovations, so the uniqueness and high quality of Japanese companies in these categories may be accepted.
Lazada also offers a premium marketplace called LazMall, a platform where selected brands and authorized distributors can sell their products, making it an attractive option for companies looking to strengthen their brands.
Amazon
(Resorce:amazon.co.jp)
Amazon Singapore, founded in 1994, is part of Amazon.com, Inc. and is the leading e-commerce platform offering a wide range of products in Singapore.
With high Internet penetration and a well-developed online payment system, the Singapore e-commerce market is growing, and Amazon distinguishes itself from competitors such as Lazada and Shopee by offering customer-centric services.
Backed by product diversity and a strong logistics network, Amazon continues to serve the community and earn the trust of its customers.
Qoo10
(cited by qoo10.sg)
Qoo10 is a Singapore-based e-commerce platform founded in 2010. Originally launched in South Korea in 2000 as Gmarket, the company later expanded into the Asia-Pacific region, including Singapore, and rebranded to Qoo10 in 2012.
Qoo10 specifically caters to small and medium-sized businesses.
In terms of Qoo10's audience in Singapore, it recorded approximately 2.89 million monthly visitors in the first quarter of 2022. This is the fourth largest achievement in the Singapore e-commerce market. (reference)
Some of the product categories that are particularly popular on Qoo10 are fashion apparel, consumer electronics, and home & living, among others, which are characterized by their diversity.
Castley
Site image of Castley, a popular cross-border e-commerce site in Singapore
(cited from: castlery.com/sg)
Castlery is a furniture brand from Singapore, established in 2013.
It offers modern and stylish furniture designs at reasonable prices, especially targeting millennial homeowners. Starting from Singapore, the company has expanded to Australia (2017) and the United States (2019), making it the leading lifestyle furniture e-commerce site.
While specific numbers of users in Singapore are not disclosed, it is reported to have an overall market share of 32.6% and boasts the highest number of monthly website visitors among e-commerce platforms.
Users are primarily young families, and the site is popular among the 25-35 year old demographic who are looking for quality design furniture.
Castlery's product offerings include a wide range of furniture, such as coffee tables, dining sets, and sofas. They are used in many households in Singapore.
It is recommended that Japanese companies opening stores in Castlery target a younger generation that prefers modern, high-quality products and a customer base that seeks stylish designs.
It is also important to have a strong online presence and a commitment to product development; following a strategy like Castlery's of deep product focus and digital expansion will lead to success in the Singapore market.
The Digital Payment Landscape in Singapore
When developing your e-commerce site in Singapore, you need to consider the payment method.
Credit cards are the obvious choice, but if you do not know the payment services used locally, users may leave the site at the payment screen.
Here we introduce three popular digital payment services in Singapore.
Digital payment in Singapore: GrabPay
(Resorce:grab.com)
GrabPay is a very popular digital payment platform in Singapore.
Originally derived from a ride-sharing service that started in Singapore, this payment service is used not only to pay for rides, but also for in-store purchases and GrabFood delivery services.
Users can store their credit card information within the app or add funds to the app as a prepaid account. The rewards become richer the more they use the app, as users can accumulate GrabRewards for spending at GrabPay merchants and apply them to discounts on rides, meals, and other payments.
GrabPay's popularity in Singapore is due to its ease of use and broad applicability: the GrabPay Wallet can be used to make QR code payments in stores, shop online, send and receive funds among friends and family, and even pay at international MasterCard merchants. You can use GrabPay Wallet in a wide variety of situations. This flexibility and convenience make GrabPay one of the major payment methods in Singapore.
Digital Payment in Singapore 2.PayNow
(Resorce:abs.org.sg)
PayNow is an instant real-time payment system developed in Singapore by the Association of Banks of Singapore (ABS).
It is supported by all major banks in Singapore and regulated by the Monetary Authority of Singapore (MAS). Users can instantly send and receive funds in Singapore dollars between banks or individuals using their mobile number, NRIC, Unique Entity Number (UEN) of the company, or Virtual Payment Address (VPA), or scan a QR code.
PayNow is not only for individual users, but also for businesses. The convenience of instant payments, the ease of not having to provide bank account information, the wide acceptance of major banks, and high security standards have made it an essential payment method for many Singaporeans.
Compared to other payment services, it has become popular due to its ease of use and the fact that transactions can be made securely without sharing bank account information.
Digital Payment in Singapore 3.PayLah!
(Source: dbs.com.sg)
DBS PayLah! is a widely used mobile wallet app in Singapore, powered by DBS Bank.
As of 2021, it has approximately 2.2 million users and is considered one of the most widely used mobile wallets in Singapore.
It should be noted that DBS PayLah! is optimized for DBS/POSB account holders, but its use may be limited for non-DBS/POSB account holders.
The main difference from other payment services is that DBS PayLah! is operated by DBS Bank. This means that it is closely integrated with DBS banking services and offers features that are particularly convenient for DBS/POSB account holders.
However, it should be noted that this in turn makes it difficult for non-DBS/POSB bank account holders to use the service.
Logistics infrastructure essential for cross-border EC in Singapore
In conclusion, logistics in Singapore is very well developed.
Singapore has established itself as a global logistics hub in Asia and is consistently ranked in the top class in the World Bank's Logistics Performance Index (LPI) rankings.
All logistics channels - air, land, and sea - are well developed, and Changi Airport and the Port of Singapore, in particular, serve as Asia's leading logistics hubs.
However, the supply chain disruption caused by the H1N1 coronavirus pandemic has had a certain impact on the logistics industry in Singapore, causing high warehouse occupancy rates and rising rental rates.
This may make it more difficult than before to secure warehouses and logistics facilities.
As a precaution for Japanese companies operating e-commerce sites in Singapore, it is first important to build an efficient logistics system by taking advantage of the availability and convenience of the logistics infrastructure.
However, it is also necessary to pay attention to cost management, bearing in mind that warehouse occupancy rates remain high due to the Corona disaster and rising rental rates. In addition, the Singaporean government is aiming for further development of the logistics industry and is investing in new technologies and automation, as well as in human resource development, so it is a good idea to actively take advantage of these trends.
Compared to other countries, Singapore has a well-developed logistics infrastructure, which means that there are relatively few barriers in terms of logistics. However, rising logistics costs and ensuring supply chain flexibility are likely to be major challenges in the future.
For cross-border EC in Singapore, contact The Digital X for a free consultation.
Singapore is one of the most economically affluent countries in Asia.
Because of this, many companies are planning to expand into Singapore.
However, it is a fact that many of them are struggling due to business practices, regulations, and rules that differ from those in Japan.
No matter how successful a business model or marketing method is in Japan, it often does not work at all when it goes overseas.
We at The Digital X are a group of digital marketing professionals focused on Asia.
Together with local native marketers and partners, we will thoroughly support your expansion into Singapore.
First, why don't you contact us for a free consultation?

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Service materials are available for download.
If you are considering BtoB marketing support or sales support services, please read on!