In fact, from a PayPal research done Jan-Feb 2011, there were several interesting findings:
- Singapore online commerce market reached S$1.1 billion in 2010, and will grow to S$4.4 billion in 2015.
- 1.2 million Singaporean online shoppers (above the age of 18 years old) had an average spend per head of S$1,492 over the past year.
- 84% of Singaporeans used their mobile device to either research or purchase goods.
- Mobile eShopping is in its infancy stage comprising 4% of online shopping market.
- Over 364 thousand Singaporean online shoppers spent S$43 million ($$119/user) on their mobile devices last year, approximately 4% of the online shopping market
- 40% (~S$420 million) of online purchases were domestic.
With online and mobile eShopping primed to take off in Asia and Singapore,
- How will sales and marketing change with eCoupons, vouchers? What are the ancillary revenue opportunities?
- How will apps, the Web, TV impact marketing, promotions and distribution channels for eShopping? How will these ancillary channels evolve?
- With daily deals fatigue, what are the new models in eShopping? Is gamification trending as an engagement tactic? Is yield management a new model to look into?
I look forward to engage into further discussions on the above.
1. The Stats and Facts of Online Shopping in Singapore
2. Mobile commerce on growth path in Asia Pacific
3. PayPal Study Shows Singaporeans Find Value in Shopping on Local Websites