Mcommerce to become main growth driver for Groupon Singapore

Mobile payments in Singapore

Mcommerce in Singapore

The daily deals site has seen tremendous success in the island city-state over the last 2 years.

Groupon Singapore, the daily deals site, has already been experiencing massive growth over the last two years within the city state, and mcommerce has become its primary driver within this highly competitive marketplace.

It is expected that the online shopping sector in the company will quadruple by 2015.

It is expected to reach $1.1 billion (Singapore) in 2012, and should rise to reach at least $4.4 billion (Singapore) in three years from now. This largest daily deals site has said that it has remained competitive even in this crowded marketplace, by continually improving and innovating the experience for merchants, and by performing close tracking of the satisfaction rates among its customers.

Its CEO has pointed out that the company provides a very unique version of mcommerce.

The CEO of Groupon Singapore, Karl Chong, pointed out that “Groupon Payments is a very unique example of where Groupon is trying to be the local operating system for businesses in Singapore. We’re trying to make it easier for merchants to track the results of their Groupon experience. What Merchant Payments allows merchants to do is basically have a lower transaction fee than other credit card companies.”

He explained that in this way, if a customer uses the Groupon Payment system in order to make a credit card purchase, there is a charge of only 1.8 percent as opposed to the 3 percent which is the average throughout the rest of the marketplace.

It should be noted that Singapore consumers are not immune to the “deal fatigue” that appears to have been creating a lull in the sector around the world. In this country, alone, the market plummeted from the 72 that existed at its most popular in 2010, to only 19 companies in 2012.

Groupon, however, has continued to thrive, particularly with mcommerce driving it forward. Its profit in August was still considered to be quite strong. In Singapore, the company is virtually unaffected and continues to hold its course to grow its customer satisfaction and trust levels.

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