Singaporeans are big online shoppers, will spend $4.4b by 2015: Paypal
Online shopping in Singapore is booming.
By 2015, e-shoppers will be snapping up clothes, shoes, books and gadgets to the tune of $4.4 billion, up from an estimated $1.9 billion last year.
A 2011 survey on online and mobile shopping by e-payment firm PayPal showed that Singapore's online commerce grew 30 per cent, from $1.1 billion in 2010 to $1.4 billion in 2011.
PayPal's general manager for South-east Asia and India Faraz Ahmed said consumers are shifting their spending from physical stores to online stores because of lower prices, greater convenience and a broader selection.