Online sellers have been known to increase retail sales as much as 1,250% — simply by listing on new channels like Alibaba.com, Amazon, and Best Buy.
The Singaporean e-commerce market is growing very rapidly with big and small companies, either pure digital players or brick-and-mortars retailers that venture online. The most sophisticated market for e-commerce in Southeast Asia remains interesting for the very solvable and technology-savvy population of almost 7 million in Singapore.
Each online marketplace has its own unique requirements, product categories, listing fees, and audiences. So if you want to be sure you’re making the right decision, some upfront research is necessary. You’ll want to understand the different strategies for selling on marketplaces, which ones hold the most promise for your products, and what you need to do to ensure a smooth start.
Does that sound overwhelming? Not to worry. We’ll go over each of these areas in detail. In this deep dive, we’re covering all the need-to-know essentials.
Ready to get started? Let’s dive right in.
Below are the Top 10 E-commerce marketplace platform that are trending among Singaporeans :
10. Jet.com – an American e-commerce company headquartered in Hoboken, New Jersey
The company was co-founded in 2014 by Marc Lore (who had previously sold Diapers.com to Amazon.com, along with Mike Hanrahan and Nate Faust. Jet.com raised $820 million over four venture rounds from GV, Goldman Sachs, Bain Capital Ventures, Accel Partners, Alibaba Group, and Fidelity.
9. Magento Commerce – acquired by Adobe Inc in May 2018 for $1.68 Billion USD
Magento is an open-source e-commerce platform written in PHP. It uses multiple other PHP frameworks such as Laminas and Symfony. Magento source code is distributed under Open Software License (OSL) v3.0, an Open Source Initiative (OSI)-approved license, which is similar to the AGPL but not GPL compliant.
8. Etsy – Largest Unique Products Marketplace
Etsy is an American e-commerce website focused on handmade or vintage items and craftsupplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. All vintage items must be at least 20 years old. The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of US$0.20 per item
7. Rakuten – The Amazon in Japan
The largest B2B2C (Business to Business to Consumer) Ecommerce site in Japan, the Rakuten marketplace has now expanded globally, including a program for US ecommerce sellers.
6. Chewy – Online Kingdom of Pet Products
Acquired in 2018 by PetSmart, Chewy.com is one of the biggest online marketplaces for pet products, beating out Amazon in pet products sold in 2018. Chewy is known for excellent customer service and affordable prices.
5. Shopify – Had more than 1,000,000 businesses in approximately 175 countries using its platform up till June 2019
One Of The Best Quality B2B PlatformShopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.
4. Walmart – A Marketplace That Brings In 127 Million Unique Visitors Every Month
According to consumer research gathered by Tinuiti, there is a large overlap between Amazon.com and Walmart.com shoppers: Over 57% of Amazon buyers also shop on Walmart.com. Having a presence on both marketplaces gives you a better chance of capturing those shoppers.
3. eBay – The eCommerce Company That Once Sold a Whole Town
Since eBay first launched all the way back in 1995, it’s evolved from a site that only sold used goods to become one of the largest ecommerce retailers in the world. This marketplace is suited for sellers that sell new and used items and are open to auctioning their products for a higher price.
2. Amazon, Inc. – The King of eCommerce
Amazon.com, Inc. is an American multinational technology company based in Seattle that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is considered one of the Big Fourtechnology companies, along with Google, Apple, and Microsoft.
1. Alibaba Group Holding Ltd. – Alibaba.com, the eCommerce Dragon
Alibaba is China’s ecommerce giant. What was once a startup employing only 18 people now has over 22,000 employees. The international company’s market cap recently broke $400 billion, and they currently account for 80% of online sales in China.
How to Choose an Ecommerce Marketplace That’s right for Your Business?
There are lots of online marketplaces to choose from, so to find a match, you have to be clear on your goals and needs. Each platform has unique features and is geared towards different seller sizes and niches.
Keep in mind that if more than one marketplace meets your needs and gets you the exposure you want, use more than one. You can use My Marketing Fox to help you manage your inventory across all of the marketplaces, so regardless of where shoppers find you, there’s up-to-date product information available.