Singapore sellers to achieve double-digit sales growth in 2023
We will continue to support sellers in Singapore in the run up to Amazon’s 10th Prime Day event on 16th and 17th July.
SINGAPORE – Media OutReach Newswire – 28 June 2024 – Amazon Global Selling Singapore today launched the 2024 Amazon Global Selling Trends Report, titled “Nurturing Entrepreneurship and Building a Global Brand”. The report details cross-border e-commerce (export e-commerce) opportunities for Singaporean entrepreneurs, performance highlights of local sellers on Amazon stores, and inspiring stories of successful local entrepreneurs. According to the report, Singaporean sellers have maintained their momentum in 2023, achieving double-digit sales growth on Amazon’s international stores.
2024 Amazon Global Sales Trends Report
Leveraging Amazon’s global tools and resources, sellers in Singapore reached customers around the world on Amazon’s international stores and achieved record sales on Prime Day 2023. With Amazon’s 10th Prime Day event returning this year on 16th and 17th July, the Amazon Global Selling Singapore team has been working closely with local sellers to help them have a successful Prime Day this year as well.
Anand Palit, head of global selling for Southeast Asia at Amazon, said: “We believe that Singaporean sellers have great potential in the cross-border e-commerce industry, and we are committed to empowering their success by providing them with the knowledge and online export expertise they need to succeed globally. This includes leveraging Amazon’s global resources and local initiatives, such as the Cross-Border Brand Launchpad programme, jointly launched in partnership with Enterprise Singapore and the Singapore Business Federation. The programme will equip local entrepreneurs with cross-border e-commerce skills to access burgeoning opportunities in the sector and help them build long-term global businesses.”
Three key takeaways from the 2024 Amazon Global Selling Singapore Trends Report:
Singapore merchants ready to seize global e-commerce opportunities
The Amazon Global Selling Singapore Trends Report 2024 paints a promising future for Singaporean sellers engaged in export e-commerce. With investments in cross-border e-commerce, revenue from B2C e-commerce exports is predicted to more than double from $1.7 billion in 2022 to $3.9 billion by 2027. 44% and 36% of Singaporean SMEs are eyeing opportunities in the US and the UK, respectively.[1]Cross-border e-commerce allows merchants to bypass the traditional B2B model and connect directly with a customer base around the world.
Singaporean sellers are expanding into Amazon’s international stores
Singaporean sellers have been widely recognized by customers around the world on Amazon’s international stores for their high-quality products and brand. KeaBabies, a local brand offering eco-friendly and high-quality baby products, began selling its first baby products on Amazon.com in 2017. Within a year, KeaBabies expanded into Europe and its products can now be found in 10 Amazon stores around the world, including North America, Europe, Singapore and Australia. Prime Day 2023 saw sales exceed $1 million on Amazon’s global stores over the two-day event. The baby wrap carrier also ranked as a bestseller.[2] Within that category.
Ms Jane Neo, Chief Business Officer and Co-Founder of KeaBabies said: “Selling on Amazon has enabled us to expand to 10 countries within two years. 2023 has been a phenomenal year for us, achieving S$78 million in sales globally. Amazon has the robust infrastructure, logistics and reliability to support a seamless shopping experience for customers and establish the credibility of our products.”
Helping Singaporean merchants expand their business globally through innovative tools, programs and services
Since 2019, Amazon Global Selling has had a dedicated team to introduce export e-commerce opportunities in Singapore and has been committed to helping Singaporean entrepreneurs capitalize on this new business model. In 2023, Amazon Global Selling Singapore hosted the annual Amazon Global Selling Summit, its flagship event for aspiring, current and experienced sellers in Singapore and Southeast Asia to pave their way to selling on Amazon’s international store. The team also worked to foster a vibrant local seller community by connecting sellers with each other through the Amazon Seller Ambassador program and providing regular networking events and introductions to the tools, programs and policies of Amazon’s global store.
When it comes to learning and development, the Amazon Seller Education team in Singapore provides a comprehensive library of resources for Singapore sellers. The ready-to-use content covers a seller’s journey, from onboarding to launching their business to going global. In 2023, the team launched an interactive training program, offering online courses with real-time interaction. The program has attracted over 5,000 participants.
To access the full Amazon Global Selling Trends Report 2024, visit sell.amazon.com.sg/amazon-global-selling-trend-report-2024
[1] Survey from AlphaBeta
[2] Based on Amazon.com bestseller rankings as of May 2024
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About Amazon Global Selling
Amazon Global Selling helps companies anywhere in the world launch global businesses, reach Amazon customers around the world, and build international brands. Through selling on Amazon, sellers of all types and sizes can directly reach Amazon’s hundreds of millions of active customer accounts worldwide, including more than 200 million Prime members and more than 6 million business customers around the world.
For more information, visit sell.amazon.com.sg.
