Singapore – Singapore sellers have maintained a significant momentum on international platforms, achieving double-digit sales growth on Amazon’s international stores in 2023.
This is according to the latest report from e-commerce giant Amazon, which tackled opportunities in cross-border e-commerce for Singapore entrepreneurs.
Key findings of the report showed that Singapore sellers are keen to tap into global e-commerce, with B2C e-commerce export revenue projected to reach US$3.9b by 2027 from US$1.7b in 2022, given their investment in cross-border e-commerce.
It was also noted that 44% of Singapore MSMEs are exploring opportunities in the United States, while 36% are targeting the United Kingdom. This further indicates cross-border e-commerce, allowing sellers to bypass traditional B2B models and connect directly with a global customer base.
Commenting about the report, Anand Palit, head of global selling for Southeast Asia at Amazon, said, “We believe that Singapore sellers have high potential in cross-border e-commerce industry, and we’re committed to fuelling their success by providing the knowledge and online export expertise they need to thrive on a global scale.”
