Yahoo Finance Amazon Global Selling in Singapore Launches First Cross-Border E-commerce Trend Report
Singapore Sellers Achieved Double-Digit Sales Growth in 2023
Continue to Support Singapore Sellers to Prepare for Amazon's 10th Prime Day Event, Returning This July 16 & 17
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
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About Amazon Global Selling
Amazon Global Selling helps businesses from anywhere in the world to launch a global business, reaching Amazon customers around the world and building international brands. Through selling on Amazon, sellers of different types and sizes can directly reach Amazon's hundreds of millions worldwide active customer accounts, including more than 200 million Prime customers worldwide; and more than six million of business customers worldwide.
To learn more, please visit: sell.amazon.com.sg
