Read from Straits Times (30 Nov 2010) that Internet-savvy shoppers spend $690m online, 15 times more than in 1999. That is a good sign for all inspiring web entrepreneurs in Singapore!
The figure is derived by adding up all individual online transactions made with Singapore credit cards throughout the year (local and overseas sales)
It also disclosed that the biggest sectors were clothing and footwear, and consumer electronics which accounted for more than 60% of Singapore residents’ online transaction last year.
Our emall.sg also recorded an average of 3-5 new stores added each day. Emall now has more than 4000 listed local online stores.
Exisiting online stores like fairprice.com.sg, fareastflora.com abd bestorganicfood.sg are all experiencing increased sales. The same trend can also be seen in Malaysia and Hong Kong.
So what are you waiting for? It is time to jump on the bandwagon and start our own online business.