Due to coronavirus, the world is never the same again. Online marketplace in Singapore bloom because people cut down on travelling and shy away from crowded areas. This leads to explosive traffic to the internet telco companies, online media, online gaming and finally, online shopping.
We have to also face the facts that human behaviour is forced to change. When countries after countries introduced movement restrictions, they are forced to purchase online. Traditional business relying on brick and mortar setting is faced with a dilemma of closing down due to lack of human crowd and operational cost.
The online marketplace is a website that aggregates demand and supply for sellers and buyers in a centralised online channel. Compared to traditional eCommerce, after setting up a website, most businesses have to then advertise and market to pull in traffic, then retain their customers for repeat purchases. It can be very draining on resources, time, and effort.
Ecommerce online marketplace took hold of this opportunity and disrupt the traditional eCommerce. Consumers tend to look for deals and instead of browsing from websites to websites, they could search for deals on just a platform. For the sellers, it provides lower setup costs and maintenance. Logistic support is given as a plus together with customer management or inventory support.
To be clear, we are discussing about B2C online marketplace model. This is the most practical model and usually one of the largest. We would be comparing some of the popular marketplace. This includes Qoo10, Lazada and Shopee.
Qoo10 – estimated 7.9 million visitors monthly
Qoo10 started in Singapore on 2008 as Gmarket. It was rebranded as Qoo10 in 2012. It is important to note that beside Singapore, it is also rooted in Japan, Indonesia, Malaysia, China, Hong Kong. This is a platform to look into if you are planning to sell oversea. As one of the pioneer, Qoo10 have the largest user database in Singapore.
However, slowly Qoo10 is losing competitive edge as their market share is diluted by new players. Most sellers also left the platform because it is expensive to maintain an account. Strangely, there is very little information to educate new sellers in using its sophisticate UI. The learning curve therefore is very deep.
Lazada – estimated 8 million visitors monthly
Lazada started in 2012 with the aim of selling inventory to customers from its own warehouse. Soon when the business is integrated with a marketplace model, sales grow by 65%. After Alibaba took a controlling stake in the business, Lazada overtook overtook Qoo10 in 2019 as the largest eCommerce operator in Southeast Asia.
Among the online marketplace operator, Lazada is considered to be the most established. It attracts new shoppers with aggressive marketing campaign. Providing new sellers with low platform charges and structured lessons with Lazada university.
Shopee – estimated 2.6 million visitors monthly
Shopee Is previously known as Garena founded in 2015 in Singapore. It is interesting to note that this business started as a C2C marketplace. It started moving towards B2C after expanding its partner with courier and logistic startup.
Comparing to Qoo10 and Lazada, it has lower database of users. Surprisingly, this platform has the highest active monthly users. It is able to engage young users with social media function and games. Shopee keeps its platform simple, neat. Making itself the most user friendly among the marketplace operators.
Pyxis Singapore is a brand created by Northstar Digital to help small businesses to venture into online marketplace. With our experience and knowledge, we assist small business to go into digital and equipped them with the knowledge to fight the competition.
We would also like to take this opportunity to share some of the products we are selling online.
Products sold by Pyxis Singapore in online marketplace
A popular natural insect repellent, natural and effective without chemical.
A natural antiseptic with properties in killing cough, cold and flu virus.
Tea tree oil(Melaleuca alternifolia) is well known for its antibacterial, anti-inflammatory, antiviral, and antifungal properties, giving itself a good reputation as a ‘skin doctor’.