People in Singapore are keen on overseas online shopping, according to PayPal that recorded 10 transactions per minute in 2012 on 26 November 2012, Cyber Monday.
Not everything is available in Singapore and this is driving shoppers to go online and search for gifts available in other countries.
The months of October and December are known for festive shopping across the globe and in 2012, PayPal enjoyed a 12% year-on-year increase in purchases made by online shoppers in Singapore from overseas sellers as compared to these months in 2011.
Sales from US merchants during Black Friday and Cyber Monday in late November increased by 21% from 2011 to 2012.
"There is no better time to shop online than during the holidays, especially when local online shoppers can shop the world from the comfort of their homes and skip the queues," said Lawrence Chan, vice president of Asia Pacific Merchant Services and general manager for Southeast Asia and India, PayPal.
Holiday shopping microsite
Singapore shoppers can visit a dedicated website by PayPal to buy holiday gifts and deals from retailers around the world. This holiday shopping microsite is available at www.paypal.com.sg/ppwish.
Fashion, Toys, Auto parts, Sports Equipment and Jewellery were the most popular buying categories in 2012; and United States, China, Great Britain, Hong Kong and Japan were the top nations Singapore online shoppers bought from last year.
PayPal expects this positive buying trend to remain strong for Singapore merchants, and intends to tap into a possible US$100 billion in online commerce revenues spent by international consumers this year.
Currently there are more 9 million active PayPal accounts in Asia Pacific and over 1.5 million active accounts in Southeast Asia
"With a globally-trusted payment platform like PayPal, merchants can reach over 137 million international shoppers online across 193 markets with 26 currencies, offering them a faster, more convenient and more secure way to pay for their shopping," added Chan.
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