Get All Access for $5/mo

Singles Day Spending in Singapore Rose 67% Versus 2017/18 Electronics were the hottest items during the sales day

By Aparajita Saxena

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Shutterstock.com

Singaporeans spent an average of S$150, or $110.19, on online shopping on Singles Day (November 11), 67 per cent more than they did in 2017 and 2018, leading to top e-commerce platforms in the city state registering record sales, an iPrice Group analysis showed.

Electronis were the hottest items during the sales day, followed by the home & living category which saw the biggest growth in average spending versus 2018.

Singles Day is an annual online shopping festival that was started by China's e-commerce giant, Alibaba Group, as a counter to Valentine's Day. The company uses big-budget marketing campaigns, live product reviews, celebrity performances, flash sales and deep discounts to attract customers, and sales through the day often exceed those during U.S. shopping festivals, such as Black Friday, or Cyber Monday.

This year Alibaba raked in a record $31 billion from sales.

In Singapore, shoppers spent an average of S$171 on electronics, up 77 per cent from last year, as consumers spent on items such as gaming and appliances.

Spending on home and living items rose 156 per cent, led by security equipment, outdoor garden and lighting items.

Kids and toys was also a popular category, and spending rose 92 per cent, versus the last year.

"The increased consumer confidence shows further potential for growth on Singles' Day in 2020 and beyond," the iPrice study said.

The findings were derived from data from over 150 e-commerce merchants, and more than 30 million products through the company's aggregator platform.

Aparajita Saxena

Former Deputy Associate Editor, Asia Pacific

Aparajita is Former Deputy Associate Editor for Entrepreneur Asia Pacific. She joined Entrepreneur after nearly five years with Reuters, where she chased the Asian and U.S. finance markets.

At Entrepreneur Asia Pacific, she wrote about trends in the Asia Pacific startup ecosystem. She also loves to look for problems startups face in their day-to-day and tries to present ways to deal with those issues via her stories, with inputs from other startups that may have once been in that boat.

Outside of work, she likes spending her time reading books (fiction/non-fiction/back of a shampoo bottle), chasing her two dogs around the house, exploring new wines, solo-travelling, laughing at memes, and losing online multiplayer battle royale games.

 

Business News

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Business News

How to Build a Successful Startup, According to an Investor Who Made Early Bets on Twitter, Lyft, and Twitch

He's found a few patterns after nearly two decades of investing in startups.

Science & Technology

How AI Is Being Used to Improve Cybersecurity for Businesses of All Sizes

Discussing the role of AI in cybersecurity, the challenges that cybersecurity teams are facing and future trends that governments and businesses need to be aware of.

Growing a Business

The Top 5 AI Tools That Can Revolutionize Your Workflow and Boost Productivity

Discover the top 5 AI tools for marketing and content creation that every marketer needs to know.

Marketing

10 Effective Growth Marketing Hacks and Strategies for Your Startup

Working at a startup can feel like building a plane while you're trying to take off. Use these ten marketing tips to effectively grow and sustain your startup.