Tag: Online Shopping
RateX, a Singapore-based payments startup has raised S$3million (US$2.3million) in a pre-series A funding round.
Mobile shopping app use jumped 54% in 2017 from the prior year, making retail the fastest-growing category among apps, analytics firm Flurry found.
In order to expand their spheres of influence, Chinese technology heavyweights such as Alibaba and Tencent have vigorously looked at international markets. With a tech-savvy population, among other cultural and geographical affinities, Southeast Asia finds itself the latest target market for these Chinese giants.
E-commerce is one of the top five most popular activities of Thai mobile users, according to a survey by the Electronic Transactions Development Agency (ETDA).
Food and grocery research organization IGD forecasts that Singapore’s online grocery market will triple in growth over the next three years, from US$91 million to US$350 million by 2020.
In the last five years, the typical Malaysian online shopper has “transformed” from a young urban male to a family man. Or woman, Lazada CEO, Hans-Peter Ressel said during an interview to Malay Mail Online.
Apparel and tech gadgets are two things that are almost synonymous with online shopping. According to Statista, ecommerce sales in fashion and the electronics & media categories make up more than 50% of total online sales in Southeast Asia.
Malaysian e-commerce startup Threeciety Sdn Bhd or 3ciety (formerly known as ‘Threes & Tees’), has launched its 3ciety e-marketplace at 3ciety.com, according to DigitalNewAsia.
Nielsen’s Global Saving and Investment Strategies announced earlier this year revealed that 60% of Malaysians prefer cash payment for daily spending rather than credit cards. The percentage is even higher in the Philippines (74%), Thailand (68%) and Vietnam (61%). Singaporeans, on the other hand, prefer using mobile wallet to make payments.
Online shoppers in Singapore are estimated to have spent S$1.2 billion (US$855 million) with retail stores located outside the country – the U.S., China and Japan being the most popular locations, according to a report by online payment provider PayPal.