Online shopping is the new way of life for many, and the numbers from e-commerce platforms and services like Amazon only serve to reinforce the statement. While the rise in popularity of online marketplaces is already open knowledge, statical figures from Singapore’s leading multi-currency wallet YouTrip have shown the extent of their reach over the past year.
According to the company, the year-on-year spending of Singaporeans on online overseas purchases has increased by 84 percent from July 2020 to June 2021. The reason for the leap is attributed to a “greater appetite for goods from foreign retailers by locals in times time of disrupted travel”, which builds upon the previously-recorded spike in the first half of 2020.
Most of the spending are driven by key players from China and the US, with Taobao and Amazon taking the top two spots in the list of top 10 overseas website frequented by Singaporeans in the past 12 months. Alibaba.com and eBay are ranked third and fifth respectively.
Additionally, transactions on Taobao and Alibaba.com were noted to have more than doubled from the year before, registering a 131 percent and 120 percent increase. eBay, meanwhile, saw purchases rising by 98 percent.
Clothing apparel and footwear emerged as the top category for overseas shopping among Singaporeans, with consumer electronics, furniture, and household items following behind. Fitness-related products like health supplements and cycling gear, along with K-pop merchandise, enjoyed an increase in popularity and purchases.
None of the insights are particularly surprising, and it’s likely that digital shopping will continue to be a mainstay as the world shifts to the work-from-home standard, which makes now the best time to spruce up or upgrade your space. Here are some of our recommendations:
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As for the best deals on shopping overseas, YouTrip might offer competitive exchange rates – just remember to do your homework prior.