Qoo10 Singapore grabs lead in e-commerce
As Singapore’s e-commerce sector expands, Qoo10 Singapore has claimed the lead in market share with 32.6 per cent, according to Euromonitor.
It outranks Amazon and Apple, which hold 11.5 and 11 per cent of market share respectively, and follows earlier data from meta-search website iPrice, which shows Qoo10 was the most popular e-marketplace destination in Singapore with more than 13.4 million monthly visits in this year’s first quarter.
Euromonitor has also estimated that Singapore’s online retail sales rose by a CAGR of about 21.3 per cent over 2012-17, leading the growth in the Asean region. But online’s share of overall retail sales remains below 5 per cent.
Qoo10 Singapore was launched in June 2010 and now has 3 million registered users. With Singapore as its headquarters, Qoo10 has expanded its marketplaces to Korea, Indonesia, Malaysia, Hong Kong and Mainland China.