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More Singaporeans turn to virtual stores for shopping

Revenues are predicted to hit S$4.4b by next year

[SINGAPORE] More Singaporeans are opting to buy things like clothes, electronic goods, books and even groceries online instead of going to a physical store. And this shows in the e-commerce sales numbers.

Research agency Frost and Sullivan says Singapore was the largest e-commerce market in South-east Asia last year, generating revenues of US$1.7 billion. This is confirmed by a recent survey of shopping habits here by Japanese e-commerce giant, Rakuten. Singaporeans are expected to spend 30 per cent more on online shopping than offline shopping by 2020, the survey says. Today, Singaporeans are spending twice as much time shopping online as compared to five years ago.

Yet another study by Merger...

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