Discovering How Much Singaporeans Spent on 11 November 2019 as Compared to Past Years
Smartphone enthusiasts are brewing with excitement with the release of Apple’s newest device, the iPhone 11 on 20 September 2019. Although the iPhone 11 is sold at S$1,389 (the 256GB model), users who are looking to save up to S$114 might want to purchase the new iPhone one year later. The estimated reduction in price was found in our recent study utilising the historical prices of previous iPhone models such as iPhone 7, , X, and XS.
Analysing the Leading E-commerce Shopping Apps & Websites in Singapore as of Q2 2019
75% of Singaporean consumers give a 5/5 star rating for delivery satisfaction when delivery is made between 0-3 days Satisfaction ratings fall significantly when delivery transit time lengthens Over 90% of customer complaints and negative feedback are related to late delivery and a lack in communication about the delivery status
When it comes to smartphones, Singapore is ranked as one of the highest globally for smartphone penetration. Various mobile app continued to rise in popularity - with the usage and need of shopping online that have become ubiquitous.
In November 2018, Google & Temasek predicts that the internet economy in Southeast Asia(SEA) will reach US$72 billion in gross merchandise value (GMV) mark by 2018. A big chunk of the valuation will be held by the e-commerce sector valued at approximately US$102 billion by 2025. To reach that goal, the study also mentions that a bigger talent pool of internet economy professionals will be required to realise the industry’s full potential.
The 11.11 Singles’ Day has been a huge success for Alibaba when it generated US$30.8 billion of GMV, a 27 per cent more compared to last year. The global shopping festival, which is said to be bigger than Black Friday and Cyber Monday, saw many top e-commerce players in Southeast Asia participating it. As ranked on Map of E-commerce, top players such as Qoo10, Lazada, Shopee introduced various new and attractive promotions to cater the high interest this year.
Online sales for Singapore during 11.11 last year rose 60 per cent compared to 2016, according to marketing technology company, Criteo. All online engagements including browsing and purchasing were also reported to be 2.4 times higher between both years.
Recently, Jack Ma announced his retirement from a 19 year in the making success of Alibaba Group, at the age of 54. He led the company from his humble beginnings back in his apartment to now what is known as an e-commerce giant worth $420 billion today.
Singapore aims to achieve the Diversity Action Committee's (DAC) target by 2020 which is to have a 20 percent female representation on the boards of listed companies. According to the Minister for Culture, Community and Youth, Grace Fu, women only occupy just over 10 percent of board seats which is far from optimal.
The e-commerce industry in Southeast Asia is at its best yet. With US$200 billion worth of market and billions more invested in the region, investors and consumers all around the world are looking forward to its emergence.