Skip to main content

A peek into Singapore's retail transformation in the last decade.

By Anonymous


The retail industry has undergone massive transformation in the last 10 years. The use of social media, the flexibility of payment, improved logistics, and the prevalent use of smartphones have contributed to the rapid growth of the online retail scene; now enhanced through the developed marketplaces and fulfillment network.

In Singapore alone, there are at least 6 marketplaces to reach out to customers. Qoo10 Singapore started in 2010, Lazada and Zalora both launched in 2012 and Shopee joined the crowd in 2015. With the high traffic and low set up cost, most sellers have stores in multiple marketplaces in a bid to increase sales channels.

For small and medium enterprises (SMEs), managing multiple marketplaces can be a logistical challenge. With different dashboards and rules, listing and updating all your SKUs will be the first stumbling block amongst other tasks like order processing, arranging fulfilment's, handling enquiries and maintaining reviews.

Sellers can participate in promotional activities within marketplaces to jump-start in getting the first few orders. But a consistent effort to garner decent chat response time and positive reviews will drive confident results in getting orders in the long run. Furthermore, managing search algorithm and purchase data is the key hustle and bustle to increasing sales and reducing obsolete inventory.

Faced with Singapore’s small domestic market and slow economic growth, it is vital for Singapore sellers to venture beyond Singapore marketplaces. And with that, it will take approximately 12 months to reach a healthy monthly GMV. So, how can SMEs get ready for this?


Like how online retail scene developed with the demands of users, the evolution of marketplaces stimulated the birth of enablers. Enablers are third-party companies that manage marketplaces on behalf of sellers; and some of them have their own propriety software. In one single dashboard, sellers can easily align SKUs, publish listings, complete fulfillment and sync inventory across all Singapore and Overseas marketplaces; easing the cumbersome task of syncing bulk data.  This propel SMEs in their growth by reducing overhead cost and logistical woes. Enabler is at heart a partner of the seller to champion the essential task of growing sales.

Moreover, eligible businesses adopting enabler solutions can now receive 70% subsidy from Enterprise Singapore; a government agency supporting Singapore SMEs to develop, upgrade capabilities, innovate, transform, and internationalize. This subsidy bolsters SMEs to expand to overseas marketplaces and participate in marketing activities in the first 12 months, in hope to reach a healthy GMV by the start of second year.

So, the next development in e-retail world is now here, selling to customers without borders. Are you ready for it?

- Article Contributed by Cindy Chiah

Popular Posts

Influencer Marketing in E-commerce Strategy

By Anonymous
  Influencer marketing is not a new concept in advertising. Before the rise of the internet, celebrities and sportspersons endorsed brands through traditional advertising mediums (TV, news, magazines). Social media platforms such as Instagram, Tik Tok, Facebook, Twitter, and Snapchat, on the internet now allow influencers to directly connect with the core audience. Additionally, the platforms have given opportunities to other people, also known as micro-influencers. Today, 9 out of 10 brands utilize influencer marketing to reach their target consumers and the ROI on using influencer marketing has proven to be more effective, generating $18 for $1 spent. With 7.9 million retailers vying for online consumers, influencer marketing has become a core part of digital marketing strategy. Who or what are Influencers? It’s not possible for upcoming brands to partner with A-list celebrity influencers such as Dwayne ‘The Rock’ Johnson, Kim Kardashian, o...
Post a Comment
Read more

Buy Online, Pickup in Store

By Anonymous
A National Retail Federation study on Consumer Views in late October 2019 revealed that70% of the survey participants would pay for a Buy-online, pick-up-in-store service (BOPIS). BOPIS has emerged as a convenient option not only for consumers but retailers that invested in brick-and-mortar stores. Growth in online retail sales was overtaking traditional brick-and-mortar retail before the pandemic and BOPIS was being adopted by top retailers. With the onset of the pandemic in 2020, a Digital Commerce 360 survey in late 2020 showed results that 43.7% of the top 500 retailers with physical stores were offering BOPIS — up from 6.9% before the pandemic started. BOPIS, also known as click-and-collect or curbside- pickup provides a safe, contact-free way to shop online and pick up the ordered items. In order to implement BOPIS, a retailer needs to implement the following tools: 1) A website or app where customers can shop and place orders for the products online 2) A brick-and-mortar locatio...
Post a Comment
Read more

Customer Retention Strategies for E-Commerce

By Anonymous
Customer Retention Strategies for E-Commerce Gone are the days of Henry Ford when he said, “You can have any color so long as it’s black” . Retaining customers is an important aspect of e-commerce strategy as customer acquisition costs increase with new e-retailers crowding the market and vying for the attention of online customers. According to Smallbusinessgenius.net ,  65% of a company’s business comes from existing customers, and increasing customer retention by just 5% boosts profits by 25% to 95% . 82% of companies surveyed agree that retention is cheaper than acquisition. Customer retention strategy , of course, depends on the lifecycle of the brand or online retailer’s platform. At the early and growth stage in a lifecycle, businesses are likely to focus on customer acquisition as the brand or reputation needs to be built among consumers. But a foundation for customer retention strategy needs to be developed in order to maintain consistency with the target audience over a ...
Post a Comment
Read more

Search This Blog