A recent study by Airwallex, in collaboration with Statista, has revealed that cross-border eCommerce is a prevalent trend among Singaporean consumers. The survey, which involved 1,000 participants, highlighted that 69% of Singaporeans make international purchases at least once a month, with fashion, skincare, electronics, and food and beverage being the most popular categories.
The study underscores the importance of transparency and trust in the online shopping experience. A significant 97% of respondents emphasised the need for affordable shipping and transparent fees, whilst 96% valued the ability to use their preferred payment methods. Ershad Ahamed, Head of Southeast Asia at Airwallex, noted, “Singapore is one of the most digitally advanced consumer markets in the region. Shoppers here are globally minded, but they’re also extremely deliberate—they expect a fast, frictionless, and secure checkout experience.”
Key findings also indicate a growing preference for digital wallets, with 52% of consumers opting for methods like Apple Pay and Google Pay. The Buy Now, Pay Later (BNPL) option is gaining traction, particularly for high-ticket items.
Localised shopping events, such as double-digit sales days and major holidays, are pivotal in driving cross-border sales, with 93% of shoppers planning purchases around these occasions. The study also revealed that 98% of Singaporeans are comfortable buying online from overseas, a figure significantly higher than the global average of 89%.
Airwallex is addressing these consumer expectations by offering fast, localised payment solutions, supporting both international brands entering the Singapore market and local businesses expanding abroad. The company, founded in Melbourne and headquartered in Singapore, continues to innovate in the global financial landscape, processing over $150b in annualised transaction volume.
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