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At the start of the COVID-19 pandemic, the Singapore government announced a nationwide lockdown, forcing many Singaporeans to stay home. Classes were moved online, and professionals worked remotely. Since people could not go out for leisure purposes, many businesses that depended on customer walk-ins faced a sharp decline in sales. Some were even forced to close down. So what do they do to reduce their losses?
With increased internet usage, businesses saw an opportunity and started selling their products on e-commerce sites like Shopee and Lazada. Some locals also took the chance to create a side hustle on these platforms and earn more profit.
The growing number of people doing their shopping online has caused a steady growth in the e-commerce industry in Singapore. Data by Bain & Company states that e-commerce sales in Singapore are forecasted to hit S$13.4 billion by the end of 2026. Also, Singapore's digital economy has placed the country as a hub for cross-border e-commerce platforms, with several well-known tech unicorns establishing their regional headquarters here. This gives individuals more reason to start their e-commerce businesses and bring them overseas.
Looking to start your online business in Singapore? Read on to find out more.
After determining what to sell and planning out a business model, you'll have to register your business with ACRA. Singapore's e-commerce regulations are implemented to boost consumers' confidence when making purchases online. All companies doing business in Singapore are expected to follow these laws:
Electronic Transactions Act
Sale of Goods Act
Computers Misuse Act
Trade Marks Act
Personal Data Protection Act
Once done, you'll have to choose a platform on which your business will be based on. Most would opt for a site with the highest traffic to increase their chances of earning more profits. The most popular ecommerce platforms in Singapore include Lazada, Shopee, Amazon, and Qoo10. These sites offer both local and international shipping options.
What e-commerce delivery service should you provide? What is the best way to ship your parcels? When running an ecommerce business, it is essential to offer timely and reliable shipping services for e-commerce to optimise your shipping strategy. Statistics from Orbelo mention that 10% of people are willing to wait for 5 to 7 days, and 2% of people are willing to wait for 1 to 2 weeks.
Choosing the ideal delivery carrier depends on a variety of factors: the type of products you're shipping, shipping destinations (to and fro), package weight and dimensions, and the price of your product.
For international shipments, there are a variety of different e-commerce shipping solutions for business owners to choose from. Stand out from the crowd by offering same-day delivery with DHL Express. This guarantees customers that they'll receive their parcel on the same day they've ordered. Alternatively, for less urgent parcels, consider next possible business day deliveries. We also provide Customs Services to further facilitate deliveries. For a small additional fee, you can benefit from clearance authorisation, intercepting inbound shipments and expediting them.
Our Optional Services also allow you the flexibility to ship unusual items and adhere to pickup or delivery times outside of the normal business hours. Some benefits of going with DHL Express, your choice courier in Singapore, includes end-to-end tracking visibility, which means your customers are updated in real-time about the status of their parcels. With MyDHL+, they can sign in with ease and receive the delivery information they are looking for. By partnering with an experienced logistics and order fulfilment company in Singapore, you can successfully deliver products to your customers and keep them satisfied with timely and efficient deliveries
A well-packed shipment can limit the chance of damage and ensure that your recipient receives the products in perfect shape. Heavier shipments will need a more sturdy box or possibly double layer wrapping. For odd-sized items, choose a box that can easily hold your shipment and also allow extra room within the box to include cushioning or packing material, such as foam peanuts. Use two types of inner packaging material for valuable cargo for enhanced protection. Being familiar with how to pack your goods properly will take you a step closer to ensuring they arrive at their destination in optimal conditions.
With more businesses taking off abroad, it is crucial to partner with a trusted carrier to deliver your packages internationally . Growing and scaling your e-commerce business does not have to be an uphill journey. When you partner with an experienced logistics provider like DHL Express, your shipping experience is fast, safe and hassle-free. We offer the fastest shipping transit times of 1-3 days* to Asia Pacific and other countries around the world. Sign up for a DHL Express account today.
*Terms & conditions apply