E-shopping goes viral

E-shopping goes viral

The optimistic projections of local e-tailers make Singapore appear like a boom town for e-commerce. It has drawn many new e-stores to the local scene in the last three years.

Many claim they are selling millions of dollars worth of merchandise and doubling their sales every year.

Luxola, a Singapore-based online cosmetics retailer, said it hit its first $1 million in sales within two years of its April 2011 launch. But its most recent million-dollar revenue was achieved in under two months, said its founder and chief executive, Ms Alexis Horowitz- Burdick.

She said she expects its annual revenue to hit $100 million by 2016.

Sosoon, which launched its website last December, said it expects sales to hit $1 million a month within six months. It said that for the full year, it expects sales to reach $20 million from selling apparel, household appliances, consumer electronics and baby products.

Even e-marketplaces that represent individual sellers and retail entrepreneurs claim to be going great guns.

Singapore-based Qoo10, for one, said transaction volume on its site grew from under $100 million in 2012 to $150 million last year and it expects this to double to $300 million this year.

Online marketplace STClassifieds.sg has also seen significant growth in its ad listings, from 30,000 in 2009 to more than 180,000 last year.

Cheaper, better variety online

E-tailers say the reasons for their online success are better prices, greater variety and a fuss-free experience.

Customers agree.

"The variety online is just amazing," said Ms Kismet Heng, 42, a sales support manager. She buys clothes for her three children from e-marketplaces such as Qoo10.

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