How & Where To Sell Online in Singapore (Updated 2023)?

Why choose Singapore?

Singapore’s a market that online retailers are very interested in. The city-state in Southeast Asia has grown approximately 6-7 percent in 2022, which is greater than predicted given the pandemic’s effects. Singapore is the perfect place to launch an internet business or increase its global clientele due to its strong international trade and linkages to other parts of Asia. However, for those who are unfamiliar, breaking into the e-commerce market might be challenging.

Singapore is ideal for starting a business virtually or expanding your pool of customers. It has good connections to the rest of the Asian market and excellent international trade. However, entering the business can be challenging for those unfamiliar with the country.

However, when you offer your goods on these online bazaars, you should compete with other sellers on the same platform. Given this, a strong online presence is a smart approach to start or even direct platform users to your website if they want to learn more about your business.

You can set up your online shop on various platforms, such as Shopify and Magento. If setting up an e-commerce website is challenging for you, you can contact an experienced digital marketing team specialising in SEO for e-commerce, especially if you lack the time and resources to build and maintain the website and drive traffic.

Do I require a license in Singapore to sell?

No. In Singapore, online traders are not required to obtain a licence to operate their businesses. Because of the way the Singapore Broadcasting Authority’s regulations are written, it is unclear if online business operators need licenses (SBAs).

Internet Content Providers (ICPs) are considered broadcasters under the 1994 laws. E-commerce platforms are considered ICPs but are still considered “class licensees” by default. Since the SBA does not have global jurisdiction, individual sellers do not have to get anxious about obtaining a licence from the authority, mainly when they are headquartered abroad.

The Sale of Goods Act (SOGA), which deals with the standards and quality management of items, is nevertheless advisable for online traders to be aware of.

What does the Sale of Goods Act (SOGA) do?

To fully grasp their obligations under Singaporean law, e-merchants should review the Misrepresentation Act.

Contracts for the sale of products in Singapore are governed under the Sale of Goods Act. Every contract for selling goods contains implied terms in the Act. The contract states the following:

• The products must be of acceptable quality.
• Product descriptions must match the actual items offered.
• If the items don’t satisfy the requirements, the buyer has the option of rejecting them, ending the contract, or suing for damages.

To fully understand their obligations under Singapore law, e-traders should read the Misrepresentation Act.

Examining Singapore’s most widely used e-commerce sites

After learning about the relevant legislation, traders can find the top online platforms to sell products virtually in Singapore.

1. Shopee

Source: https://shopee.sg/

More than 7 million people visit Shopee in Singapore every month. The company is known for its consumer electronics, home and lifestyle, and health and beauty products. Furthermore, there is an extensive list of categories in which sellers can put their products on sale as shown in the image below.

Source: https://shopee.sg/

As of April 2021, Shopee was the most visited online marketplace. Due to the platform’s easy-to-use functions and features, Shopee is extremely popular.

Signing up for Shopee’s account should be considered by sellers wishing to grow their business in China. But, merchants must also register a foreign account, allowing them to swiftly receive payments in foreign currencies if they want to maximize their revenues from venturing into the Chinese market.

Singaporean sellers are encouraged by Shopee to reach out to Chinese customers. The new program is designed specifically for merchants with offices in Singapore and is in the pilot phase at the moment.

There is no denying that Shopee is one of the most popular e-commerce platforms in Singapore, with around 10.88 million monthly online views.

Founded in 2015, Shopee is best known for being Southeast Asia’s first mobile online marketplace. With a little help from its risky but effective business model, Shopee has spread virtually throughout Southeast Asia.

Moreover, there are no registration or commission fees and compensation is paid every two weeks. NinjaVan and Singpost are the common standard couriers used for shipping items.

2. Carousell

Source: https://www.carousell.sg/

Carousell is relatively young in the market, yet it has already established itself as one of Singapore’s most well-liked local virtual platforms. Some countries in Asia now have access to it. Additionally, it expands your target market for you.

Despite being a little younger than Shopee in terms of funding, Carousell is placed second in terms of internet traffic. The ease of adding products to Carousell, which takes only about 30 seconds against an average of 10 to 15 minutes on sites like eBay, is one of its most significant advantages.

Carousell’s product-focused communities are one of its strengths. A well-liked option that enables customers to interact with vendors and forge meaningful connections that may boost sales is the distinguishing “Chat to Buy” function.

Unfortunately, the company’s primary website disallows sales to foreign customers. It is encouraged that minor companies that want to expand internationally look at alternate places which can provide better assistance with their objectives.

Online shopping and selling are both possible with the Carousell smartphone app. Because of its straightforward design, Carousell is a fantastic website for selling both new and used goods.

3. Lazada

Source: https://www.lazada.sg/

Lazada was the first few online platforms in Asia. Because it is more colourful and organized than those on other marketplaces, customers enjoy utilizing Lazada’s user interface for browsing products. You may promote your products to customers throughout Southeast Asia because of Lazada’s substantial e-commerce presence in the region.

Lazada receives more than 10 million visitors per month in Singapore. The brand is well-known for its furniture, household appliances, and clothes.

Lazada is ranked third based on the quantity of website traffic. Lazada was formed as an Amazon rival in Southeast Asia and launched its operations in the Philippines in 2012 before moving its operations to Singapore in 2014.

Lazada provides good complete support systems for merchants, ranging from auxiliary services like taxes, financing, and shop design. One of the well-known Singaporean e-commerce sites that welcomes foreign clients the most is Lazada.In 2012, Lazada was established with the main objective of becoming Southeast Asia’s Amazon.com. After four years and a wave of success, the company was sold to Alibaba for a market value of about US$2 billion.

Lazada presently has operations in Indonesia, Malaysia, Thailand, Singapore, the Philippines, and Vietnam. Keep in mind that Lazada has the authority to withhold a commission of up to 15% of the entire transaction value from sellers. The fact that there are no registration costs is the finest part. Moreover, the payment is paid every two weeks.

4. Amazon

Surprisingly, the global internet juggernaut was responsible for Singapore’s booming e-commerce. The US-based company launched regional services in 2017 but did not offer a dedicated web address for Singapore until 2019.
Since then, Amazon has ranked as the fourth most popular e-commerce platform in the region, based on website traffic.

Selling online in Singapore through Amazon offers extremely lucrative potential for local and foreign merchants, thanks to the company’s global reach and highly competitive Prime service.

Small businesses and entrepreneurs can connect with millions of customers thanks to Amazon. This allows even the smallest businesses to compete directly with some best-known household names.

Selling your products on Amazon is a practical way to start a new online business or expand an existing one. To start selling, you only need is $29.95 per month (excluding VAT). Remember that there is a fee for each item you sell on Amazon. Additional costs will apply if you choose to use Fulfilment by Amazon to select, pack, ship, and service your products.

5. Qoo10

Qoo10, once called Gmarket, provides all you need, including mobile gadgets, kitchen utensils, and accessories for your workspace. Customers choose to shop on Qoo10 as they are able to shop for goods at low prices, save money with frequent special offers and take advantage of efficient delivery service.

If you sell your items using Qoo10, you can increase sales outside your website. Customers can trust your products as it is a very reliable virtual store in Singapore.

More than 7 million people visit Qoo10 every month in Singapore. Consumer electronics, baby and toys, and health and home products are some of the company’s most popular specialities. Every month, about 7.5 million people visit Qoo10’s website.

Qoo10 was founded in 2010. Although the market can be found in many Asian countries, it is mainly established in Singapore and Japan. This e-commerce website is best known in Singapore for selling fashion items, especially Korean goods.

Although registration is free, a service fee of between 10% and 12% of the total transaction amount is charged for regular sellers, 8% to 10% for good sellers, and 7% to 9% of the total transaction amount for power sellers. The registration fee is $100 for Case and is paid weekly.

6. Redmart

The ideal marketplace for you to sell food and household items is RedMart. Singaporeans benefit from having more convenient grocery shopping, especially those who lack time to visit the supermarket. The Lazada network is used to run this online marketplace.

7. eBay

One of the most well-known e-commerce platforms, eBay has a history of more than 20 years with a significant market presence and a global seller pool.

eBay Singapore does not charge for listing items or commissions, while other paid eBay sites such as eBay UK, eBay USA, and eBay Australia do. If you successfully sell your item on the platform, you will also be charged a final value fee.

Conclusion

Due to the high number of users in various e-commerce sites, Singapore is definitely an attractive location for selling your products, especially for online retail sellers. If you need help in marketing your products to sell in Singapore, talk to us regarding your digital marketing needs today.

If you are looking for more grants in Singapore to help you kickstart your business, check out CZ Consultancy today. Alternatively, if you’re looking for someone to help with your digital marketing, check out the best digital marketing agencies in Singapore!