Is It Worth Dropshipping to Singapore? Read This First
Many dropshipping entrepreneurs are looking to start or scale a dropshipping business and might be wondering if it’s worth drop shipping to Singapore.
With its excellent infrastructure, schools, and healthcare system, it might be next on your dropshipping hit list and reach a 6-figure income!
In this article, we will look at whether it’s worth expanding your empire to Singapore with its strong economy and vibrant culture.
There’s a current online shopping boom in Singapore. With an initial investment of $1000 and the right tactics carefully executed, dropshipping is profitable. A supportive government, reliable and fast shipping, and Internet usage from 80% of the population, plus growing social media use are other reasons it’s worth dropshipping to Singapore.
So with the quick answer nailed, let’s start by discovering some of the chief reasons to start dropshipping into one of Southeast Asia’s top cities.
Why should I dropship in Singapore?
The choice of global markets can depend on many factors for dropshippers.
- Demand in a country for the products within your preferred niche
- The purchasing power of the population
- Internet penetration
- Availability of easy, quick, and reliable shipment.
With the eCommerce market in Singapore predicted to be worth $5.4 billion by 2025, that’s surely a good enough reason to start dropshipping to Singapore. Right? Let’s find out more
Why should I do dropshipping to Singapore?
When eCommerce store owners are wondering if it’s worth drop shipping to Singapore, let’s discover some of the most important reasons.
We are often asked if it’s profitable to dropship there, so let’s discover what we think as dropshipping experts.
- Online shopping boom With a reported population of nearly 6 million, this diamond-shaped south East Asian island is enjoying an online shopping boom. With YouTube, Facebook, and Instagram as the top socials, there is real scope for profitable dropshipping to Singapore. According to a recent study. Shoppers in Singapore eCommerce spent an average of more than US$1,000 each on online purchases of consumer goods in 2018, significantly more than the global average of US$634.
- Singapore internet penetration According to recent survey indicators, About 80 percent of Singaporeans use the internet every day, and the online market is growing steadily. In fact, the e-commerce industry in Singapore is expected to be worth US$5.4 billion by 2025. Ecommerce user penetration is now at 69.6%, with Statista predicting it to rise to 73.2% by 2023. In another recent study, 70% of Singapore consumers are active on social media.
- High cost of living: As the cost of everyday commodities in Singapore is well known to be high, this gives a distinct advantage to those who run their business via a dropshipping model. A dropshipping store will have more attractive competitive prices as compared with local Singapore retailers. So anyone with a Shopify or other type of eCommerce store stands to make a profit by offering items more cheaply shipped from China.
- Supportive Government: You might also want to note that Singapore has one of the most supportive governments in the world which provide business with incentive schemes and grants. Nothing restricts you from breaking geographical boundaries and launching your dropshipping business on a global front.
“A dropshipping store will have more attractive competitive prices
as compared with local Singapore retailers.”
eCommerce and Shopify store owners need to know the types of payment systems available to their prospective customers in Singapore.
It’s crucial before expanding your enterprise into other countries that you understand their payment systems.
There are a wealth of accepted payments in Singapore for dropshippers, but credit card is definitely dominant.
These are of course in addition to usual payment methods such as bank transfer and PayPal.
So as every dropshipper knows, fast and reliable shipping is a major factor in the success of your eCommerce store. Read on to discover more about the kinds of shipping times and reliability of Singapore shipping.
“global payment gateways such as credit card and PayPal are available in Singapore”
From its relatively new inception back in 1965, when it became independent, Singapore lacked the most basic of infrastructure and paid its workers a low income. This along with limited natural resources, outside investment, and jobs meant that Singapore was not on anyone’s marketing list!
However, only a few decades later, Singapore has become one of Southeast Asia’s richest nations, which is largely due to its high-performing logistics hub.
With its trade value hitting the heights of 3.5 times its GDP according to studies, Singapore’s shipping now takes on the rest of the world.
Shipping from China to Singapore is fast and stable and it usually takes less than 8 days to deliver.
So for those who want to know if it’s worth dropshipping to Singapore and if it’s profitable, let’s take a look at the importance of language for consumers living in Singapore.
Languages for Singapore dropshipping
Most online stores which include any kind of dropshipping, Shopify or eCommerce store will use the English language which is one of the official languages in Singapore.
However to make sure you capture a wider audience, make sure your website includes the Chinese language too.
Every dropshipper is looking for winning products to sell with a good profit margin. What about the kinds of niches your prospective customers in Singapore will be most interested in.
“to make sure you capture a wider audience, make
sure your website includes the Chinese language too.”
As we discovered previously Singapore consumers are avid online buyers. They have some favorite products which could lead to a profitable dropshipping business in Singapore.
As with many countries where dropshipping is popular, fashion is high on their shopping hit list.
Homeware relating to all areas of the home and the kitchen could also be winning products for Singapore dropshipping entrepreneurs.
As with many other Asian countries and worldwide outdoor pursuits are a great product area to find profitable dropshipping products.
Paddle boarding, kayaking, hiking, and even skydiving are popular outdoor activities.
- Fashion clothes
- Home and kitchen
- Home décor
- Outdoor activities
“As with many other Asian countries and worldwide outdoor pursuits
are a great product area to find profitable dropshipping products.”
According to one of the studies mentioned previously in the article by Statista, in the second quarter of 2020, Shopee was the most visited eCommerce website in Singapore with approximately 10.88 million monthly web visits.
Shopee is closely followed in the popularity stakes by the Singapore-based eCommerce provider Lazada who received a huge 8.5 million visits and Qoo10 with 7.5 million visits.
“Shopee was the most visited eCommerce website in Singapore”
So there are some great reasons to expand or start your new dropshipping venture into Singapore.
By choosing the winning products, preparing a great social media ad campaign, and working with the best, reliable suppliers you have every chance of success in Singapore!
Don’t forget to find out more and visit our website to partner your store with dropshipping experts.