Ready to transform your business? Thinking of selling online? Use this guide to learn how to sell online to expand your business's cash flow. A compilation of the top platforms in Singapore for your business to start an online presence.
Whether you’re selling fashion items or you own an F&B business, you’re able to find a suitable platform to reach more consumers online. Singapore has grown to be a hotspot for businesses to thrive online. Simply pivoting to online marketplaces could help you to reach the 26% of Singaporeans that shop online at least once a week.
Based on per capita, that’s the highest percentage of online buyers in Southeast Asia.
In addition, selling online helps to activate previously unutilized revenue streams.
In this article, we’ve picked the best online selling platforms in Singapore (read: where most Singaporeans shop).
An online marketplace is a digital platform that connects buyers and sellers in one place. It allows businesses to reach a wider audience and sell their products or services online. With the rise of e-commerce, more and more consumers are turning to online marketplaces to shop and buy products. There are many online selling platforms in Singapore that businesses can use to sell their products, such as Lazada, Shopee, Qoo10, and Carousell.
Online marketplaces are important for businesses in several ways.
By selling on online marketplaces, businesses can increase their exposure to a larger audience of potential customers.
Online marketplaces often have their own marketing strategies to attract customers, so businesses can save money on their own marketing efforts.
Online marketplaces provide an alternative to setting up a physical store, which can be costly. Selling on an online marketplace is often more affordable and requires less investment upfront.
Online marketplaces typically have an intuitive user interface and offer a range of tools and services to help businesses manage their sales, making it easier for sellers to get started.
To start selling online in Singapore, businesses can choose from various platforms depending on their needs, budget, and target market. It is important to do research and understand the different platforms before selecting the best fit for the business.
Singapore is a highly desirable market for online sellers due to several reasons. Firstly, it has a high internet penetration rate, with over 84% of its population being internet users. This provides businesses with a large online customer base to target. Additionally, Singapore has a strong economy, a stable political environment, and a high GDP per capita, meaning that consumers have higher purchasing power and are more likely to spend online purchases.
Furthermore, Singapore has a well-developed infrastructure for e-commerce, with reliable payment gateways, efficient logistics services, and a strong regulatory framework that protects both consumers and businesses. Singapore is also strategically located in Southeast Asia, providing businesses with easy access to other markets in the region.
All these factors make Singapore an attractive market for online sellers and a great place to start and grow an online business.
Starting an online business in Singapore is a straightforward process that can be done in a few simple steps.
Several types of business entities can be registered in Singapore, such as a sole proprietorship, partnership, limited liability partnership, or private limited company.
Once the business entity has been chosen, it can be registered with the Accounting and Corporate Regulatory Authority (ACRA).
Depending on the nature of the business, certain licenses and permits may be required before the business can start operating.
To sell online, businesses must set up an online presence, which includes a website, social media accounts, and listings on online marketplaces.
Businesses must select an e-commerce platform that best suits their needs and budget, from which they can sell their products or services online.
An online payment gateway must be set up to enable customers to make purchases.
A reliable logistics partner must be chosen to ensure that orders are fulfilled efficiently.
By following these steps and seeking professional advice, businesses can start an online business in Singapore and leverage the benefits of e-commerce.
If you're considering selling your products or services online in Singapore, there are a number of things you'll need to be aware of to ensure that you comply with local regulations and laws. Here are five key things you need to know about selling online in Singapore.
The Sale of Goods Act is a law that governs the sale of goods in Singapore, including those sold online. As an online seller, you'll need to ensure that your products meet the requirements of the Sale of Goods Act, which includes:
The goods must be of satisfactory quality
This means that the goods must be fit for their intended purpose, and free from defects or damage.
Depending on the nature of your business, you may need to obtain a license to sell your products or services online in Singapore. For example, if you're selling food or health supplements, you may need to obtain a license from the relevant regulatory authorities.
Similarly, if you're selling certain types of products, such as alcohol or tobacco, you may need to obtain a license from the relevant authorities.
To legally operate a business in Singapore, you'll need to register your company with the Accounting and Corporate Regulatory Authority (ACRA). This involves obtaining a Unique Entity Number (UEN) and registering your business name, address, and other details with the authorities.
If you're looking for a simple and hassle-free way to register your business in Singapore, you can use a platform like Aspire. Aspire makes it easy to register your business online, with a streamlined process that can be completed in just a few clicks.
If you're importing goods into Singapore for sale, you'll need to know the applicable taxes and duties. The Singapore Customs website provides detailed information on the different types of taxes and duties that may apply to imported goods, including:
Goods and Services Tax (GST): This is a tax of 7% that is levied on most goods and services sold in Singapore, including imported goods.
Import duties: Depending on the nature of the goods being imported, import duties may also apply. These duties are typically calculated as a percentage of the goods' value.
It's important to factor these taxes and duties into your pricing strategy to ensure that you're not pricing yourself out of the market.
Finally, it's important to be aware of the types of goods that are prohibited from being sold online in Singapore. Some examples of prohibited goods include:
Counterfeit goods: Selling counterfeit goods is illegal in Singapore and can result in heavy fines and legal action.
Pornography: The sale of pornographic materials is illegal in Singapore.
Prescription drugs: Selling prescription drugs without a license from the Health Sciences Authority is illegal.
In addition to these prohibited goods, certain types of goods are restricted in some way. For example, the sale of certain types of firearms and ammunition is strictly regulated and may require a license from the authorities.
By partnering with a platform like Aspire, you can simplify the process of setting up and managing your online business, allowing you to focus on growing your brand and reaching new customers.
• Lazada
• Qoo10
• Shopee
• Shopify
• Carousell
• eBay
• Zalora
• RedMart
• Craigslist
• Fishpond
• GrabFood
• Deliveroo
• FoodPanda
One of the largest e-commerce platforms in Southeast Asia, Lazada offers a wide variety of products available for sale. Lazada gets more than 10 million visitors in Singapore, monthly. It is known for their fashion, consumer electronics, and home & living products.
Registration fees : None
Commission fees : (Commission rate + 2% Payment Service Fee) x Listing Price
Paid out every 14 days
Fulfilment by Lazada, NinjaVan or Singpost
Register on Lazada
Lazada has an eCommerce starter package for retailers affected in this period and Lazada University offers a wide range of resources!
Qoo10 gets more than 7 million visitors in Singapore monthly. It is known for their consumer electronics, baby & toys and healthy & living products. It is a diverse online marketplace that offers a diverse range of products from electronics to fashion, beauty and more.
Registration fees : $100 for Case
Commission fees : Seller Grade x Listing Price
Paid out every 7 days
QExpress
Register in Qoo10
Qoo10 requires the purchase of QCash for marketing usage on their platform!
Shopee gets more than 7 million visitors in Singapore monthly. It is known for their consumer electronics, home & living products and healthy & beauty products.
Registration fees : None
Commission fees : None
Paid out every 14 days
NinjaVan, Singpost for deliveries or self-collection
Register on Shopee
Shopify is a cloud-based, SaaS shopping cart solution that allows you to customise your own shopping platform easily.
Subscription fees : From USD 29 per month
Paid through credit card to your company bank account
Self-fulfillment
Register on Shopify. Note that your own domain name is required.
Shopify offers a 90 days FREE trial during this period, you can also get cashback on your subscription fees when you pay using the Aspire Card (check out our other rewards)!
GrabFood is a local F&B services company that offers food delivery services. They get more than 14 million visitors monthly and is known for their wide array of cuisines provided and are known for their various cuisines. Restaurants can partner with the platform and deliver their dishes to customers.
Registration fees : $100/outlet if you use your own Android Device and do not print order receipts. $300/outlet for a Grab Order Device that automatically prints order receipts.
Commission fees : 30% on all GrabFood orders
Paid out every 14 days
Fulfilled by GrabFood drivers
Register on GrabFood
Deliveroo is a local F&B services company that offers food delivery services. They get more than 470 thousand visitors monthly and are known for their strong fulfillment services.
Commission fees : Depending on merchants
Paid out every 14 days
Fulfilled by Deliveroo drivers
Register on Deliveroo
Carousell is a popular platform for buying and selling second-hand goods in Singapore. It's easy to use and offers a wide range of categories, including fashion, electronics, and home decor.
Free for basic listing, additional fees for premium features
Typically within 3-5 business days after successful transaction
Seller can choose to offer shipping or meet-up options
Create an account on the Carousell app or website
eBay is a global online marketplace that allows individuals and businesses to sell products to buyers around the world. It's a popular platform for both new and used goods.
Fees for listing, final value fees for successful transactions
Depends on the payment method used; can range from instant to several days
Seller can choose to offer shipping or pick-up options
Create an account on the eBay website
Zalora is a popular online fashion and beauty retailer in Singapore. It offers a wide range of products from both local and international brands.
Costs
Commission on each sale, additional fees for premium features
Payment
Typically within 30 days of successful transaction
Delivery
Zalora provides its own delivery service
How to Register
Apply to become a seller on the Zalora website
How to Sell on Zalora?
Craigslist is an online classifieds platform that allows users to buy and sell goods and services locally. It's popular in many countries around the world, including Singapore.
Free to post listings
Depends on the payment method used; typically done in person
Seller can choose to offer shipping or meet-up options
No registration required, but a valid email address is needed to post listings
Fishpond is an online marketplace allowing individuals and businesses to sell products to customers in Singapore and worldwide. It offers a wide range of categories, including books, electronics, and toys.
Commission on each sale, additional fees for premium features
Typically within 30 days of successful transaction
Fishpond provides its own delivery service
Apply to become a seller on the Fishpond website
foodpanda is a food delivery platform that lets users order food from their merchant of choice and get it delivered to their doorstep within 15 minutes. According to the Straits Times, the platform sees more than 10 million users on a given day.
Step 1: Sign up via the online form
Step 2: Receive a contract
Step 3: Sign the contract
Step 4: You’re ready to receive orders from hungry foodpanda users
Selling online in Singapore can be a great way to reach new customers and grow your business. Here are some tips to keep in mind when selling on online platforms:
Before you start selling on any platform, be sure to do your research to ensure that it's a good fit for your business. Look at factors like the platform's target audience, fees, and user reviews to determine whether it's a good match.
When creating your product listings, be sure to use high-quality images and descriptive titles and descriptions. This will help your products stand out and make it easier for customers to find what they're looking for.
Providing excellent customer service is key to building a successful online business. Be responsive to customer inquiries and feedback, and work to resolve any issues quickly and professionally.
To drive traffic to your online store, you'll need to promote your products. This can include tactics like social media marketing, email campaigns, and paid advertising.
Finally, be sure to keep a close eye on your sales and analytics data to track your performance and identify areas for improvement.