Over the course of 27th November – 1st December (Thanksgiving, Black Friday, Cyber Weekend and Cyber Monday), Qoo10 posted revenue of S$4.8 million - two-fold the amount posted the same period last year.
From this tally, Cyber Monday (1st December) saw the busiest e-commerce activity, hitting a record daily transaction peak of S$1.05 million in sales. Year-on-year, orders for all seven products segments increased by at least 60%. The percentage increase in orders is as follows: Fashion & Clothing (63%), Beauty & Sports (67%), Digital & Mobile (81%), Living & Autos (87%), Baby & Food (103%), Books & Music (132%) and Deal & Entertain (282%).
The best-selling product categories by transaction volume were Fashion & Clothing (31%), Digital & mobile (21%), Beauty & Sports (18%), Living & Autos (13%) and Baby & Food (12%). Despite receiving lesser orders, the Digital & Mobile category trumped the Fashion & Clothing segment, accounting for 30% of overall sales due to higher merchandise retail price.
55.5% of total orders were made via mobile while 44.5% made their purchases on their PC. There was a two-fold increase in the number of users who made a transaction through the mobile app.
“We can see that more Singaporeans are shopping online during Black Friday & Cyber Weekend this year and that the sale season is no longer confined to Western markets alone. Singaporeans are becoming more tech-savvy and comfortable with online shopping, with many of them making purchases from their mobile. All signs point to the growing influence of e-commerce in Singapore – something that brick-and-mortar retailers will have to consider as part of their multi-channel sales strategy. ” said Country Manager of Qoo10 Singapore, Mr Hyun Wook Cho.
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