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PR Newswire
30-11-2010, 02:56 PM
The only "shopping" I've ever done online is for movie tickets at Golden Village and Cathay! 
Nov 30, 2010
Big surge in online shopping
Internet-savvy shoppers spend $690m online, 15 times more than in 1999
By Jessica Lim & Alexandra Jen Wong
The online shopping phenomenon is becoming much more ingrained here, new figures reveal.
People here spent about $689 million online last year - 15 times more than in 1999.
And this year's sum is expected to exceed $716 million.
The numbers were compiled by market research firm Euromonitor International. It derived them by adding up all individual online transactions made with Singapore credit cards throughout the year. This includes transactions made on both local and international websites.
The biggest sectors were clothing and footwear, and consumer electronics. Together they accounted for more than 60 per cent of Singapore residents' online transactions last year.
Other growing sectors include health-care products and grocery items.
There are many reasons for the surge in online shopping, said Euromonitor. These include more households having Internet access and people here becoming more technology-savvy.
Figures from the Infocomm Development Authority of Singapore (IDA) show that household Internet access has increased from 65 per cent in 2003 to 81 per cent last year.
Other reasons include the relatively low prices of products online compared to those in the shops and better variety as more retailers open up online stores.
Ms Sarah Lim, a senior lecturer in retail management at Singapore Polytechnic, said: 'Shoppers are becoming more acquainted with the format of online purchasing. A decade ago, the trend was only just taking off. Now it is in full flight.
'Consumers nowadays are spending much more time on computers and (are) exposed to the Internet. They are no longer apprehensive.
'There are also so many online stores now, from established retailers to young entrepreneurs testing the market.'
New entrants to the online retail scene here include Challenger Technologies, which set up online store 12buy.sg six months ago.
Its acting director for group marketing and e-commerce Loo Pei Fen said the amount spent on Internet transactions has been growing by about 20 per cent a month.
Smaller businesses such as food store Chan Ah Beng Trading are also joining the fray. Its owner Desmond Chan opened online store bestorganicfood.sg four months ago. He said the response has been good.
Online shopping directories are also signing up more members.
According to directories such as emall.sg and fashionfanatics.com.sg which list online retailers on their website, numbers are booming. Both websites are adding three new online stores a day.
In the meantime, existing online stores are experiencing swifter business.
NTUC FairPrice, which set up its online store fairprice.com.sg in 2003, said the site has been gaining popularity over the years.
Online sales have increased by 30 per cent compared to last year, said the chain's spokesman. Popular items bought online include drinks, milk powder, toilet paper, detergent and rice.
Business has also been good at Far East Flora's online store, set up in 2000.
Ms Sarah Yong, senior manager of FarEastFlora.com, said that online sales have more than doubled over the past five years. More than 60 per cent of the company's total sales transactions are now made online, she added.
The growth in Singapore is in line with that in other countries in the region. Internet retailing in Malaysia, for instance, has increased from RM243 million (S$100 million) in 1999 to RM4.2 billion last year.
In Hong Kong, Internet retailing has gone up from HK$115 million (S$20 million) in 1999 to HK$4.1 billion.
Ms Jennive Piak, 34, an administrator, first chanced upon online shopping while browsing the Internet in 2007.
She now spends two to three hours a day shopping online, buying things about one to two times a week. She spends $10 to $200 each time on items such as shoes, bags, and clothes.
'I seldom shop in stores here now because things online are a lot cheaper,' she said.
limjess@sph.com.sg
ajenwong@sph.com.sg
Nov 30, 2010
Big surge in online shopping
Internet-savvy shoppers spend $690m online, 15 times more than in 1999
By Jessica Lim & Alexandra Jen Wong
The online shopping phenomenon is becoming much more ingrained here, new figures reveal.
People here spent about $689 million online last year - 15 times more than in 1999.
And this year's sum is expected to exceed $716 million.
The numbers were compiled by market research firm Euromonitor International. It derived them by adding up all individual online transactions made with Singapore credit cards throughout the year. This includes transactions made on both local and international websites.
The biggest sectors were clothing and footwear, and consumer electronics. Together they accounted for more than 60 per cent of Singapore residents' online transactions last year.
Other growing sectors include health-care products and grocery items.
There are many reasons for the surge in online shopping, said Euromonitor. These include more households having Internet access and people here becoming more technology-savvy.
Figures from the Infocomm Development Authority of Singapore (IDA) show that household Internet access has increased from 65 per cent in 2003 to 81 per cent last year.
Other reasons include the relatively low prices of products online compared to those in the shops and better variety as more retailers open up online stores.
Ms Sarah Lim, a senior lecturer in retail management at Singapore Polytechnic, said: 'Shoppers are becoming more acquainted with the format of online purchasing. A decade ago, the trend was only just taking off. Now it is in full flight.
'Consumers nowadays are spending much more time on computers and (are) exposed to the Internet. They are no longer apprehensive.
'There are also so many online stores now, from established retailers to young entrepreneurs testing the market.'
New entrants to the online retail scene here include Challenger Technologies, which set up online store 12buy.sg six months ago.
Its acting director for group marketing and e-commerce Loo Pei Fen said the amount spent on Internet transactions has been growing by about 20 per cent a month.
Smaller businesses such as food store Chan Ah Beng Trading are also joining the fray. Its owner Desmond Chan opened online store bestorganicfood.sg four months ago. He said the response has been good.
Online shopping directories are also signing up more members.
According to directories such as emall.sg and fashionfanatics.com.sg which list online retailers on their website, numbers are booming. Both websites are adding three new online stores a day.
In the meantime, existing online stores are experiencing swifter business.
NTUC FairPrice, which set up its online store fairprice.com.sg in 2003, said the site has been gaining popularity over the years.
Online sales have increased by 30 per cent compared to last year, said the chain's spokesman. Popular items bought online include drinks, milk powder, toilet paper, detergent and rice.
Business has also been good at Far East Flora's online store, set up in 2000.
Ms Sarah Yong, senior manager of FarEastFlora.com, said that online sales have more than doubled over the past five years. More than 60 per cent of the company's total sales transactions are now made online, she added.
The growth in Singapore is in line with that in other countries in the region. Internet retailing in Malaysia, for instance, has increased from RM243 million (S$100 million) in 1999 to RM4.2 billion last year.
In Hong Kong, Internet retailing has gone up from HK$115 million (S$20 million) in 1999 to HK$4.1 billion.
Ms Jennive Piak, 34, an administrator, first chanced upon online shopping while browsing the Internet in 2007.
She now spends two to three hours a day shopping online, buying things about one to two times a week. She spends $10 to $200 each time on items such as shoes, bags, and clothes.
'I seldom shop in stores here now because things online are a lot cheaper,' she said.
limjess@sph.com.sg
ajenwong@sph.com.sg
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/