Singaporean retailers thrive on online market

A study by eBay shows that Singapore’s tech savvy retail exporters, who use the company’s online market place, sell to an average 41 international markets.

eBay defines retail exporters as those sellers on its site who garner US$10,000 in sales to global customers (that is buyers outside of Singapore).

According to an eBay spokesman, Singaporean retail exporters have been experiencing solid growth on the back of a revitalised US dollar. In South-east Asia, Singapore is ranked second in terms of reach behind Thailand. Interestingly, Singapore’s ranking is five destinations higher than US retail exporters.

Jason Lee, director, eBay South-east Asia, noted that the US is the top trade corridor for Singaporean retail exporters.

“An exciting trend for Singapore businesses seeking new revenue streams is the speed in which entrepreneurs are able to become a retail exporter, with 22 per cent of Singaporean retail exporters on eBay hitting the US$10,000 sales mark in the past year alone,” he added.

The top three categories that Singaporean retail exporters sell on eBay are jewellery and watches, cell phones and accessories and clothes, shoes and accessories.