SINGAPORE -
Media OutReach Newswire
- 28 June 2024 - Amazon Global Selling Singapore today released its
2024 Amazon Global Selling Trend Report titled "Fostering
Entrepreneurship & Building Global Brands," detailing the
opportunities in cross-border e-commerce (export e-commerce) for
Singapore entrepreneurs, the performance highlights of local sellers on
Amazon's stores and the inspiring stories of successful local
entrepreneurs. According to the report, Singapore sellers maintained
their momentum in 2023 and achieved double-digit sales growth on
Amazon's international stores.
By leveraging Amazon's global tools and resources to reach worldwide
customers on Amazon's international stores, Singapore sellers hit record
sales during Prime Day 2023. With Amazon's 10th Prime Day Event
returning this July 16 & 17, the Amazon Global Selling Singapore
team is working closely with local sellers to empower them for another
successful Prime Day.
Anand Palit, Head of Amazon Global Selling, Southeast Asia, said: "We
believe that Singapore sellers have high potential in cross-border
e-commerce industry, and we're committed to fueling their success by
providing the knowledge and online export expertise they need to thrive
on a global scale. This includes leveraging Amazon's global resources
and local efforts, such as the Cross-border Brand Launchpad Program
jointly launched through collaboration with Enterprise Singapore and the
Singapore Business Federation. This program equips local entrepreneurs
with cross-border e-commerce skills, helps them access the burgeoning
opportunities of this sector, and build a long-term global business."
Three Key Takeaways from the 2024 Amazon Global Selling Singapore Trend Report:
Singapore sellers are primed to capture the global e-commerce opportunity
The 2024 Amazon Global Selling Singapore Trend Report paints a promising
future for Singapore sellers engaging in export e-commerce. Revenue
from B2C e-commerce export is projected to more than double from $1.7
billion in 2022 to $3.9 billion by 2027, if they invest in cross-border
e-commerce. With 44% and 36% of Singapore MSMEs eyeing opportunities in
the United States and United Kingdom, respectively[1], cross-border
e-commerce allows sellers to bypass traditional B2B models and connect
directly with a global customer base.
Singapore sellers are establishing themselves on Amazon's international stores
Singapore sellers, with their high-quality products and brands, have
received wide recognition from global customers on Amazon's
international stores. KeaBabies, a home-grown brand providing
eco-friendly, high-quality baby products, started selling their first
batch of baby goods on Amazon.com in 2017. Within a year, KeaBabies
expanded to Europe, and today, their products can be found across 10
Amazon stores worldwide, including North America, Europe, Singapore, and
Australia. During Prime Day 2023, they reached over USD$1 million in
sales on Amazon's global stores over the two-day event. Their Baby Wrap
Carrier was also ranked as the Best Seller[2] in its category.
Jane Neo, Chief Business Officer & Co-founder of KeaBabies, said:
"Selling on Amazon enabled us to expand to 10 countries within two
years. 2023 was a phenomenal year for us, achieving S$78 million in
global sales. Amazon has the robust infrastructure, logistics, and
trustworthiness to support a seamless shopping experience for our
customers and establish credibility for our products."
Empower Singapore Sellers to Scale Globally through Innovative Tools, Programs, and Services
Amazon Global Selling has set up a dedicated team in Singapore to
introduce the export e-commerce opportunity since 2019 and has been
committed to supporting Singapore entrepreneurs in tapping into this new
business model. In 2023, Amazon Global Selling Singapore held its
annual Amazon Global Selling Summit, the flagship event for aspiring,
current, and experienced sellers in Singapore and Southeast Asia to
unlock their selling journey on Amazon's international stores. The team
also worked to foster a thriving local seller community by connecting
sellers through the Amazon Seller Ambassador program and by providing
regular networking events and introductions on tools, programs, and
policies on Amazon's global stores.
On learning and development, the Amazon Seller Education team in
Singapore has provided a comprehensive library of resources for
Singapore sellers. The readily available content covers the sellers'
journey, from registration to launching and expanding their businesses
globally. In 2023, the team launched an interactive training program,
offering online courses with real-time interaction. This program has
attracted over 5,000 attendees.
To view the full 2024 Amazon Global Selling Trend Report, visit
sell.amazon.com.sg/amazon-global-selling-trend-report-2024.
[1] Research from Alpha Beta
[2]
Based on Amazon.com Best Sellers Ranking as of May 2024