Mobile commerce explosion driven by consumers in Singapore

Singapore mobile commerce shopping concerns

Singapore mobile commerce shopping concerns

Retailers within that country are finding that it is the fastest growing market for smartphone shopping.

Though mobile commerce is beginning to take off just about everywhere around the world, it is the shoppers in Singapore that appear to be driving the boom and sending it forward at breakneck speeds.

Retailers are reporting tremendous successes specifically from that country’s consumers.

Singapore shoppers appear to have heavily embraced mobile commerce and are using it to make purchases of everything from electronics to fashion and groceries. Asian women’s clothing retailer, Qoo10, is a prime example of the impact that the city state is having on the smartphone and tablet marketplace.

The retailer reported that Singapore represents 64 percent of its 700,000 mobile commerce app downloads.

It has also reported that by mid October, its mobile commerce sales reached $15 million, with $5.5 million coming from that region. This was achieved only a year after having launched the application for the first time. Singapore is, by far, the market where it is growing the most rapidly. Over 450,000 app downloads have occurred in that country, alone.

Considering that the company also serves enormous markets such as China, Japan, Hong Kong, Malaysia, and Indonesia, this is an astounding list of statistics.

By September 2012, the worldwide transaction total for the company reached 1.4 million. Though the largest market for the company is traditionally Japan, where there are an average of 30,000 daily transactions, it is in Singapore where there is the most rapid growth. Every month, that country experiences an average growth of 20 percent.

When the size of the populations of those countries are taken into account, it is clear that Singapore is taking hold of the mobile commerce shopping experience quite heavily and is diving forward at full speed. It currently holds the highest per capita sales ratios and performs more heavily over smartphones and tablets than any other country of its size.

This high use of mobile commerce makes Singapore an important factor in the industry, as it will help to drive and to shape the way that the channel is used for marketing and technology into the future.

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