Discovering How Much Singaporeans Spent on 11 November 2019 as Compared to Past Years
Singapore’s top e-commerce platforms registered record-breaking sales during the recent Singles’ Day shopping frenzy, taking in part “the world’s biggest online sales event”
This was clear in Singapore as shoppers spent an average of S$150 on 11 November 2019, shopping on items such as electronics, fashion, home & living, and many others. Electronic items were the top-selling category with consumers spending an average of S$171. Meanwhile, the Home & Living category saw the biggest growth in average spending as compared to 2018, recording a 156% increase in average basket size as compared to 2018.
This research by iPrice Group was conducted to discover Singaporean’s shopping habits and interesting insights on this year’s Singles’ Day event. iPrice Group conducted an analysis on how much Singaporean consumers collectively spent on the top categories. The data was obtained by averaging the consumer spending during Singles’ Day in comparison with 2018/2017. The findings were derived from data recorded across more than 150 e-commerce merchants and more than 30 million products through the https://iPrice.sg/ product aggregator platform.
Here are the 5 most interesting findings from our study:
- Singles’ Day Caused a 67% Upsurge in Shopper Expenditures
Data reveals that shoppers spent an average S$150 on Singles’ Day, recording a 67% increase as compared to previous years (2018 & 2017). We believe the growth was driven by the positive interest of consumers on the sale event paired with extravagant deals & marketing initiatives undertaken by various e-commerce companies.
- Consumers were Most Attracted with Electronics and Home & Living
Categories which saw the highest number of growths in spending were Electronics, Home & Living, and Kids & Toys. The Electronics category recorded the highest basket size at S$171, with 77% increase as compared to 2018. Meanwhile, Home & Living items were one of the most sought-after with 156% growth as compared to last year. Additionally, our study reveals that Kids & Toys category experienced a 92% upsurge growth as compared to 2018.
- Gaming & Audio an Undisputed Favourite Among Shoppers
Consumers spent an average S$171 on items such as Gaming, Audio & Hi Fi, and Appliances which probably contributed to the growth of electronics by 77% growth as compared to 2018. A potential reason for high shopper expenditures was driven by high-value items on items such as gaming laptops, audio systems, and many others.
- Home & Living Items were the Second Most Spent Category
According to our study, shoppers spent an average S$163 on home & living items on Singles’ Day 2019, indicating popularity on items such as security equipment, outdoor garden, and lighting. This potentially shows an increase in consumer confidence in online shopping with items other than electronics & fashion.
- Spending & Popularity on 11.11 At an All Time High & Has Room for More Growth
The increased consumer confidence shows further potential for growth on Singles’ Day in 2020 and beyond. This is evident as we saw a 62% increase in search interest on Singles’ Day, 2019 on Google Trends as compared to 2018. In addition, the increased consumer spending on categories other than Electronics & Fashion shows there is more room for growth for e-commerce companies looking to branch out to diverse type of products.
Data featured in this study were aggregated and averaged from more than 150 online merchants & more than 30 million products through https://iprice.sg/. Data on top selling categories were solely based on data recorded on 11 November 2019 & 2018.
*Data on total average basket size for past year was obtained by averaging the total amount consumers spent on 11 November 2018 & 2017.
About iPrice Group:
iPrice Group is a meta-search website operating in seven countries across Southeast Asia namely in; Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, and Hong Kong. Currently, iPrice compares and catalogues more than 500 million products and receives close to 20 million monthly visits across the region. iPrice currently operates three business lines: price comparison for electronics and health & beauty; product discovery for fashion and home & living; and coupons across all verticals.