,Singapore

Clothes and Kpop: Singaporean overseas purchases spikes 84% by June 2021

One in two Singaporeans spends an average of $50 to $150 per online transaction.

Singapore's online overseas transactions spiked by 84% from July 2020 to June 2021 from six months previous.

This is according to transactions recorded by YouTrip, a multi-currency wallet, from Singaporean users.

Three in five Singaporeans purchase goods overseas at least once a month, whilst one in two spend an average of $50 to $150 per transaction.

China’s Taobao topped the list of international online marketplaces frequented by Singaporeans, followed by Amazon, Alibaba, iHerb, and eBay. Weverse Shop, which sells merchandise from Kpop idols such as BTS and GFRIEND, was sixth on the list.

Transactions for Taobao and Alibaba more than doubled, at 131% and 120%, respectively; whilst eBay transactions saw a 98% increase.

The top categories for overseas shopping were clothing and footwear, followed by consumer electronics and household items.

YouTrip data also showed an increase in sales in health supplement and cycling retailers such as iHerb, Chemist Warehouse, and Evans Cycles.

The company expects Singaporeans to continue to shop overseas after border restrictions ease.

“We’re expecting this overseas spending behaviour to persist when travel resumes, as echoed by nine in 10 of our users who have indicated their preference to continue shopping from foreign retailers after borders reopen. This high consumer demand positions Singapore as a key market for international retailers,” said YouTrip Co-founder and CEO Caecilia Chu.

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