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Qoo10 named biggest ecommerce market in Singapore
Qoo10 has been named as the biggest ecommerce market in Singapore, commanding a total market share of 32.6% in 2017 according to recent statistics from Euromonitor.
This puts Qoo10 ahead of other key players like Amazon and Apple, which hold 11.5% and 11% of the market share, respectively. This trend is in line with earlier data from meta-search website iPrice, which showed that Qoo10 was the most visited marketplace site in Singapore, with more than 13.4 million monthly visits in Q1 2018.
With 3 million registered users the Singapore headquartered Qoo10 expanded its marketplaces to Korea, Indonesia, Malaysia, Hong Kong and mainland China – a country that has proven challenging for eBay in the past.
Lazada, traditionally thought as the powerhouse of South East Asia ecommerce only has a 3.8% market share in Singapore, which to put into perspective is the same as UK retailer ASOS also on 3.
You’ll find many international merchants on Qoo10.com which is targeted for international customers rather than purely the Singapore marketplace. However there are some requirements for proving your business identification before you are accepted as a seller. Selling fees on Qoo10 vary between 5% and 12% depending on seller status and item value.