{"id":18285,"date":"2011-03-30T12:03:47","date_gmt":"2011-03-30T04:03:47","guid":{"rendered":"http:\/\/techielobang.com\/blog\/?p=18285"},"modified":"2011-03-30T12:03:47","modified_gmt":"2011-03-30T04:03:47","slug":"paypal-study-shows-singaporeans-find-value-in-shopping-on-local-websites","status":"publish","type":"post","link":"https:\/\/techielobang.com\/blog\/2011\/03\/30\/paypal-study-shows-singaporeans-find-value-in-shopping-on-local-websites\/","title":{"rendered":"PayPal Study Shows Singaporeans Find Value in Shopping on Local Websites"},"content":{"rendered":"<p>Want to know more information on Singaporean shopping trend on the Internet? Or find out what are the things Singaporeans will purchase locally than overseas market? Read on.<br \/>\n<a href=\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2011\/03\/image007.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"18286\" data-permalink=\"https:\/\/techielobang.com\/blog\/2011\/03\/30\/paypal-study-shows-singaporeans-find-value-in-shopping-on-local-websites\/image007-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2011\/03\/image007.jpg?fit=440%2C112&amp;ssl=1\" data-orig-size=\"440,112\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"image007\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2011\/03\/image007.jpg?fit=300%2C76&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2011\/03\/image007.jpg?fit=440%2C112&amp;ssl=1\" class=\"size-full wp-image-18286 aligncenter\" title=\"image007\" src=\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2011\/03\/image007.jpg?resize=440%2C112\" alt=\"\" width=\"440\" height=\"112\" srcset=\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2011\/03\/image007.jpg?w=440&amp;ssl=1 440w, https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2011\/03\/image007.jpg?resize=300%2C76&amp;ssl=1 300w\" sizes=\"auto, (max-width: 440px) 100vw, 440px\" \/><\/a><\/p>\n<h2 style=\"text-align: center;\"><!--more--><strong>PayPal Study Shows Singaporeans Find Value in Shopping on Local Websites<\/strong><\/h2>\n<p><strong> <\/strong><\/p>\n<p style=\"text-align: center;\"><em>Local retailers should adopt multi-channel strategy to access S$1.1 billion online shopping market <\/em><\/p>\n<p><strong> <\/strong><\/p>\n<p><strong>Singapore, 30 March 2011 <\/strong>\u2013  While the increasing popularity of online shopping in tech-savvy  Singapore is no surprise, what is amazing is how fast it has grown, the  unique preferences of Singaporean online shoppers and the business  implications for local retailers. PayPal\u2019s first ever \u201cOnline and Mobile  Shopping Insights\u201d study in Singapore revealed some interesting trends  that strengthen Singaporeans\u2019 reputation of being one of Asia Pacific\u2019s most affluent and sophisticated online shoppers. According  to PayPal\u2019s research, the size of the Singapore online shopping market  reached S$1.1 billion in 2010 and is forecasted to reach S$4.4 billion  in 2015. Even though 1.2 million Singaporean online shoppers  (above the age of 18 years old) had an average spend per head of S$1,492  over the past year, two-thirds of the online shopping spend (S$730  million) came from the middle income and above[1] groups in Singapore.<\/p>\n<p>Contrary  to popular belief that Singaporeans shop online primarily on overseas  websites, a significant portion of online retail purchases are domestic  as online shoppers spend nearly 40% (approximately S$420 million) on  local websites. Even when Singaporean online shoppers do buy from  overseas websites, they cite \u201cunavailability\u201d (58%) and \u201cgreater choice\u201d  (48%) as more important reasons than \u201cless expensive\u201d (44%), \u201cbetter  discounts\u201d (42%) or \u201cstrong Singapore dollar\u201d (35%). Thus, local  merchants can benefit from the growth in domestic online spending as  well as offer a wider choice and selection of goods (instead of  competing on price) to get a larger slice of the online shopping market.<\/p>\n<p>Elias  Ghanem, PayPal\u2019s General Manager for South East Asia and India, said,  \u201cWith the online shopping market growing so quickly and breaking through  the billion dollar mark, Singaporeans are clearly finding great value  and a wide range of products and services on the Web, be it on domestic  or overseas websites. The study results prove to local merchants that  they should embrace a multi-channel approach for both in-store and  online retail experience, with mobile as an emerging platform, in order to be wherever their customers are.\u201d<\/p>\n<p>The  study was conducted from January to February 2011 and polled 407  Singapore online shoppers aged 18 and above from Nielsen\u2019s panel for  their online and mobile shopping transactions in the past 12 months. Besides  providing an overview of the growing online shopping market, the study  also revealed insights into the attitudes and behaviours of Singaporeans  when buying online and on mobile devices.<\/p>\n<p>Some of the key findings for domestic and cross-border online shopping in Singapore:<\/p>\n<ul>\n<li><span style=\"text-decoration: underline;\">Online shopping is more than just airline and hotel bookings.<\/span> While the travel category is tops, it only accounted for S$307 million  or 28% of the online shopping market in Singapore.\u00a0 Other key online  shopping categories include: Fashion\/Beauty (S$146 million, 13% share),  Entertainment\/Lifestyle (S$143 million, 13% share), IT\/Electronics  (S$117 million, 11% share), General Insurance (S$83 million, 8% share),  and Gifts\/Collectibles (S$75 million, 7% share).<\/li>\n<li><span style=\"text-decoration: underline;\">Singaporean online shoppers buy different items between domestic and overseas websites.<\/span> Movies\/events tickets (S$36 million) and general insurance (S$36  million) are top categories for domestic online shopping, while books  (S$41 million) and movies\/music\/video games (S$24 million) are top  categories for cross-border online shopping.\u00a0 In addition, online  shoppers buy nearly double the amount for clothing (S$84 million) and  travel packages (S$38 million) on overseas websites compared to domestic  sites.<\/li>\n<li><span style=\"text-decoration: underline;\">Enhancing security can boost online spending, especially for high income[2] group.<\/span> Slightly more than 4 out of 10 say that current credit\/debit card  security measures for online transactions are inadequate and half  believe they are taking a risk every time they transact online with  their credit\/debit cards. Yet, increasing safety measures would convince  nearly 6 out of 10 to spend more online. In fact, the high income group  was the most concerned about security measures (57%), but are the most  willing to increase their online shopping if safety is improved (65%).<\/li>\n<\/ul>\n<p>In addition, these were the key findings for m-commerce and mobile shopping:<\/p>\n<ul>\n<li><span style=\"text-decoration: underline;\">Mobile shopping is in its infancy stage.<\/span> Over 364 thousand Singaporean online shoppers spent S$43 million on  their mobile devices last year, approximately 4% of the online shopping  market. Mobile shoppers bought low-priced items like movie tickets,  fashion items and mobile apps, leading to an average spend per head of  S$119 over the past year.<\/li>\n<li><span style=\"text-decoration: underline;\">Growth potential for mobile shopping is significant.<\/span> 4 out of 10 online shoppers in Singapore are willing to make a purchase  on their mobile phones. More importantly, nearly 6 out of 10 of the  high income group would be interested to do so, and they accounted for  more than half of the mobile spend last year. In addition to more  Singaporean online shoppers interested in buying on their mobile  devices, they would like to buy higher-priced items like IT\/electronics,  general insurance and collectibles, boosting the potential size of the  mobile shopping market.<\/li>\n<li><span style=\"text-decoration: underline;\">Convenient, safe, and fast mobile shopping experience will be critical for mass adoption.<\/span> The top 3 barriers to mobile shopping are small screen size (55%),  security concerns (52%) and slow mobile Internet connection (42%).<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Based  on the online and mobile shopping study results, Elias concluded, \u201cThe  strong call-to-action for local merchants is to quickly adopt a  multi-channel retail strategy, provide greater choice in their online  product offerings and offer more secure online payment options. In order  to sell to mobile shoppers, they should choose a safer mobile payment  method that can be completed in as few clicks as possible.\u201d<\/p>\n<p><strong>Research methodology<\/strong><\/p>\n<p>The  Nielsen Company conducted an online research project, commissioned by  PayPal, for the purpose of understanding the size of the Singaporean  e-commerce and m-commerce market as well as consumer behaviour and  needs. The research surveyed a random sample of 407 Singapore consumers  aged 18 and above, via an online survey from January to February 2011.<\/p>\n<p><strong> <\/strong><\/p>\n<p><strong>About PayPal<\/strong><\/p>\n<p>PayPal  is the faster, safer way to pay and get paid online. The service allows  members to send money without sharing financial information, with the  flexibility to pay using their account balances, bank accounts, debit  cards and credit cards in various markets. PayPal is an eBay company and  enables global e-commerce with more than 94 million active accounts in  190 markets and 24 currencies around the world. The company&#8217;s open  payment platform, PayPal X, allows developers to build innovative  payment applications on multiple platforms and devices. More information  about the company can be found at <a href=\"http:\/\/www.paypal.com.sg\/\" target=\"_blank\">http:\/\/www.paypal.com.sg<\/a>.<\/p>\n<p>PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.<\/p>\n<p>[1] With personal earnings of S$4,001 and above.<\/p>\n<p>[2] With personal earnings of S$6,001 and above.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Want to know more information on Singaporean shopping trend on the Internet? Or find out what are the things Singaporeans will purchase..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[1509,4,61,14],"tags":[2427,3564,2918,3566,282,4367,3964,350],"class_list":["post-18285","post","type-post","status-publish","format-standard","hentry","category-featured","category-information","category-local","category-techie","tag-online","tag-paypal","tag-purchase","tag-shopping","tag-singapore","tag-singaporean","tag-trend","tag-website"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p8YKZ-4KV","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/posts\/18285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/comments?post=18285"}],"version-history":[{"count":2,"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/posts\/18285\/revisions"}],"predecessor-version":[{"id":18288,"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/posts\/18285\/revisions\/18288"}],"wp:attachment":[{"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/media?parent=18285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/categories?post=18285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techielobang.com\/blog\/wp-json\/wp\/v2\/tags?post=18285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}