Selling on e-commerce platforms
Especially when it comes to selling products, it is often easier and more cost-efficient to sell on e-commerce sites instead of renting out a physical store or creating your own website. These sites are also a good way to test the waters and gauge market demand for your product.
In this article, we take a look at some of the e-commerce available in Singapore that you can utilize for your business.
1. Shopee
Even if you aren’t a frequent user of the internet, it’s likely that you’ve heard the catchy Shopee advertisement jingles while watching television. Though founded in 2009, it entered Singapore in 2015 and has become one of the most visited e-commerce sites. In 2020, it was reported that the site had approximately 10.88 million monthly web visits.
Shopee is a big hit with many people as it offers a wide range of products, from electronics home appliances and services as well. Besides the fact that it does not charge any commission to sellers on the platform, it is also supported by reliable logistics services and integrated payments.
They also have free marketing tools such as Shopee Live that sellers can use to boost traffic and grow sales. If you are looking to sell on Shopee, simply sign up to be a seller here.
2. Qoo10
Formerly known as Gmarket, Qoo10 is an e-commerce site in Singapore that is popular for its Korean goods and fashion products, though you will also be able to find other goods there as well.
They were founded in 2010 as a joint venture between eBay and the Korean e-commerce Gmarket. The website is based mainly in Singapore but has also expanded to other countries in Asia such as Hong Kong, Japan, and Indonesia.
Though registration is free, you will have to pay service fees depending on your seller status. The ‘higher’ your seller status is, the lower your service fee. For those looking to sell on Qoo10, you can register as a seller here.
3. Lazada
Lazada is another one of the most popular e-commerce sites in Singapore, coming in second to Shopee with 8.5 million monthly visits recorded as of the second quarter of 2020. Founded in 2012, it is one of the pioneers in the e-commerce scene.
The site has a massive selection of products from menswear to household items. They also provide sellers with access to more than 550 million consumers in the five other countries it is operating in – Indonesia, Malaysia, the Philippines, Vietnam, and Thailand.
However, do take note that they charge a commission of up to 13% of your transaction amount, depending on the category and product sold. To become a seller on Lazada, sign up here.
4. Zalora
Known as Asia’s leading online fashion destination, Zalora is one of the most popular online sites for fashion e-commerce. It was founded in Singapore in 2012 and offers a sizeable variety of local and international brands to shop from.
If you are looking to sell fashion apparel and accessories, Zalora will be a suitable e-commerce site for you. As a seller, you will be able to enjoy their special services such as advisory, warehouse, and production.
Though Zalora does not have any subscription fees, you will have to pay once you start listing your items. The commission to be paid can range from 10-30% and may change according to Zalora’s policies. Hidden costs may also be incurred from return products.
Despite these costs, Zalora still remains an affordable and reliable e-commerce site for fashion and apparel. If you are interested in selling on Zalora, you can join them here.
5. Carousell
Carousell was started by 3 NUS undergraduates and has now become one of the most popular e-commerce platforms for people to sell their second-hand goods. Its user-friendly interface makes it easy for people to list their items and make deals with other people on the app.
Though mainly used to sell second-hand goods, you can also sell your goods there as well. The site is free for both sellers and buyers, while you can pay for “boosts” to increase traffic to your product or listing.
6. RedMartAn e-commerce platform that carries groceries and home essentials, RedMart was especially popular when circuit breaker hit Singapore last year. The site delivers items straight to your doorstep within a chosen two-hour time period on any particular day.
Founded in 2011, the company was acquired by Alibaba-backed Lazada in November 2016. To sell with RedMart, you will need to have a minimum of 20 product listings and 7-day warehouse availability. Sign up to sell with RedMart here.
7. Amazon
Amazon launched in Singapore in late 2019 to much fanfare. As one of the most popular e-commerce platforms in the world, they help many small businesses compete with larger brands by giving them access to over a million customers all over the world. Many of the items that they carry are from small businesses such as these.
The cost of selling on Amazon is fairly more costly than selling on other sites on this list. You will have to pay $29.95 (excl. GST) per month and a fee on each product that sold. This fee differs across categories, and additional fees apply if you use Fulfilment by Amazon to help you with your logistics and customer service.
However, these costs might be worth the money if you are trying to expand internationally. To join Amazon as a seller, you can start selling here.
8. eBay
Good old eBay – the true pioneer of e-commerce platforms. With over 20 years in the biz, eBay has been one of the most favoured destinations for online shopping and maintained a strong market presence.
eBay’s large consumer base is what makes it a big hit with many retailers. Though eBay does not charge sellers anything for the local site, you may be charged an Insertion Fee if you would like to list your items on eBay sites from other countries. You will also be charged a Final Value Fee if the item sells. If you would like to set up your e-commerce with e-Bay, you can do it here.
E-commerce platforms in Singapore
Since Covid-19 hit in 2020, e-commerce platforms have been the go-to for many people to purchase their items online. The user-friendly platforms also make it easy and cost-efficient for sellers who are first starting out too. As your business grows on these online platforms, you may want to start looking at incorporation and bookkeeping to get all your affairs in order. If this is you, be sure to contact us where we’ll be able to provide such assistance.
