SINGAPORE - The post-Thanksgiving period from Nov 27 to Dec 1 saw four days of online deals: Black Friday, Cyber Weekend, and Cyber Monday.
This was not lost on tech-savvy and bargain-hungry Singaporeans, who boosted Singaporean e-commerce platform Qoo10's sales to double that of last year.
The company posted a revenue of $4.8 million from Cyber Monday, racking up the most sales with a record $1.05 million, according to its statement.
All seven of Qoo10's product segments saw an increase in sales of at least 60 per cent, with 'Deal & Entertainment' leading the way at 282 per cent.
The 'Digital & Mobile' segment made up the lion's share of total sales at 30 per cent, despite more transactions made under the 'Fashion & Clothing' category.
More than half (55.5 per cent) of transactions were made via the Qoo10 mobile app. The number of mobile users increased two-fold from last year.
My Hyun Wook Cho, Country Manager of Qoo10 Singapore, noted that the Black Friday & Cyber Weekend sales season is no longer limited to western consumers, and that brick-and-mortar shops should account for the increase in Singaporeans shopping online in their multi-channel sales strategy.