The astonishing smartphone penetration and internet connectivity has provided a conducive environment for e-commerce to thrive. Singapore is one of the countries across the Southern Asia where online business has thrived over the past few years.
Looking at the various popular online shops will give a snippet of what the current status of Singapore is when it comes to entrepreneurship. In fact, most of the citizens in Singapore have taken the advantage of this thriving form of business to establish startups.
It is a business to consumer type of online shop that stocks most of the supplies ranging from the pet supplies all the way to the keyboards among other electronics. One good thing to note about this marketplace is that the frequency of discounts and promotions are often. The presence of such like incentives for customers is a key factor towards its popularity. Customer retention rate is also high, which must be as the result of discounts and regular promotions.
Just the way we have the “sell it on eBay” wave in the United States, so it is with Carousell in Singapore. It is a consumer to consumer marketplace that has grown rapidly due to its mobile responsiveness. It is a shop that enables listing, selling and even buying items in an easy and straightforward manner.
Carousell has expanded its boundaries to China, Taiwan and Malaysia due to its popularity. Golden gate ventures are some of the investors interested in this marketplace.
Southeastern Asia is the operating area of Lazada online shop. Some of the items that are sold on this platform include fashion, electronics, drinks and home appliances. Lazada does not only operate in Singapore but also in Malaysia, Indonesia, Thailand, Vietnam and Philippines. US$686 million is the total amount that Lazada has raised as far as funding is concerned.
It is an online shopping place that has around for the past three years. The advantage of this marketplace is its flexibility, potential shoppers can access the shop through the mobile phone app or through the website. It has extended its operation to most parts of the Asian Pacific.
Starting an online business especially an e-commerce, you need to understand what your competitors are currently offering. It helps identify the missing gap that can be taken up as a great business opportunity.