Singapore’s e-commerce scene is blooming, but there’s still room for growth. According to PayPal, the size of Singapore online shopping market reached $1.1 billion in 2010 and is forecasted to hit S$4.4 billion in 2014 – huge opportunities right there!
If you have always wanted to set up an online store, or are in the process of making one, the following are the things you need to consider.
We are all visual creatures, and with the rest of our 5 senses limited on the online space, good photos of your product is of paramount importance.
2. Product description
Be detailed, but not verbose. Include key words like ‘travel’ if you’re offering travel services, or ‘education’, if you’re in the education business. Offer exact descriptions of your product (dimensions, material, and colour) and any disclaimers (does not come with batteries).
3. Online platform
No budget to create a store from scratch? With platforms like Storenvy, Weebly and the hugely popular Shopify, you don’t have to. Most of these platforms offer free basic services, charging for additional features, or a monthly subscription ranging from $5 – $179 a month.
Need help deciding which platform to use? Consider these four factors:
- Is it easy to use?
- Is it easy for your customers to use?
- Is it affordable?
- Is it mobile-friendly?
4. Payment gateway
It’s 2013, please don’t make your customers do an bank transfer! Offer payment by credit card, or better still, Paypal, with no setup fee and the options to pay via Mastercard or Visa. Make it as simple as possible – the last thing you want is for a potential customer to drop out halfway through the payment process.
5. Credibility – Trustsg mark
The TrustSg mark tells your customers that you are a trustworthy e-commerce operator in Singapore. It signifies that you are compliant with Singapore’s stringent code of conduct for online businesses. The code covers the area of disclosure, privacy, best business practices and security.
6. User Experience
It doesn’t stop online! Packaging, personal notes, discounts, promotions and other incentives all add up to the user experience.
7. Share, share share!
Word of mouth remains the most powerful way to share about products and services. You can offer promotions and discounts for customers to share, and new customers to make their first purchase.
Setting up an online business isn’t rocket science, but do it badly and it could incur huge losses for your business. If you own an online store and need some help with marketing, give us a shout!
(Source: Media Buzz)
Written by: Nur Safiah Bte Alias
Edited by: Liane Ng