• YouTrip also revealed Singaporean users’ top 10 overseas shopping sites in the past 12 months, with international marketplaces being key drivers of cross-border spending
• Purchases of bikes and K-pop merchandise saw standout growth, more than doubling and tripling in transactions of their respective products

SINGAPORE – Media OutReach – 28 July 2021 – YouTrip, Singapore’s leading multi-currency wallet, registered an 84% year-on year increase in online overseas purchases by Singaporean users from July 2020 to June 2021^[1]. This builds on the previous spike in overseas spending recorded by the company in the first half of 2020, reflecting a greater appetite for goods from foreign retailers by locals in this time of disrupted travel.

Cross-border spending makes up a key component of Singapore’s thriving e-commerce market, which is poised to reach US$8 billion in 2025^[2]. The continued closure of borders has also encouraged the frequency of transactions from overseas retail sites. A separate YouTrip survey showed that three in five local consumers purchased from overseas shopping sites at least once a month, and half spent an average of $51 – $150 per transaction^[3].

International marketplaces key drivers of overseas spending 

Global marketplaces continue to be hugely popular among local consumers, with key players from China and the US driving most of the overseas spending from Singaporeans.

• According to YouTrip’s data, international marketplaces – Taobao (#1), Amazon (#2), Alibaba.com (#3) and eBay (#5) – dominated the list of top 10 overseas websites frequented by Singaporeans in the past 12 months. 
• Singaporeans were also not shy about increasing their spending with these online retailers. Transactions more than doubled on Taobao (131%) and Alibaba.com (120%) from the year before, and consumers ramped up purchases on eBay, resulting in a 98% increase.

In terms of spending habits, peak transactions were registered in the mid and end of the calendar year, specifically in the months of June, November and December. These are in line with mega sale events launched by overseas marketplaces during that period, such as the 618 Taobao Festival and Amazon Prime Day in June 2021, as well as the 11.11 Singles’ Day, 12.12 Shopping Madness, Cyber Monday and Black Friday sales in time for the end-of-year shopping season.

Crossing borders to meet more of their everyday needs 

Clothing apparel and footwear emerged as the top category^[4] for overseas shopping among Singaporeans. Consumer electronics as well as furniture and household items followed behind, as locals integrated this work-from-home normal into their daily lives. 

Beyond these popular categories, the company’s latest data also showed that Singaporeans were becoming more health-conscious during the pandemic, turning to trusted overseas retailers for products to boost their overall well-being.

• Health supplement retailers – iHerb (#4) from the US and Australia’s Chemist Warehouse (#10) – were two credible  sites that Singaporeans frequented to get their dose of nutrition, whereas Lululemon HK (#8) was the go-to overseas brand for their choice of activewear.
• Singaporeans have also turned up the gears on their cycling game in the past year. Cycling-related transactions more than doubled in the last 12 months, and cycling enthusiasts were visiting leading specialist bike shops – such as Evans Cycles (#9) from the UK – to pick up their own bike and cycling accessories.

In addition to  fitness, overseas retailers also provided a source of solace for Kpop fans in a time when live concerts are halted. Transactions on Weverse Shop (#6) – the global merchandise store for top idols such as BTS and GFRIEND – saw a staggering triple in growth, as legions of local fans spare no expense to purchase merchandise that will bring them closer to their favourite pop stars.

Price is king for consumers

When asked about the reasons for purchasing from overseas retailers, around eight in 10 respondents^[5] indicated the lower cost of items on foreign sites as the key drawcard. This was followed by a wider variety  of products offered by international brands, and the lack of availability from local retailers pushing consumers to approach overseas alternatives.

“Singaporeans are becoming seasoned shoppers of marketplaces and brands from around the world. We’re expecting this overseas spending behaviour to persist when travel resumes, as echoed by nine in 10 of our users^[6] who have indicated their preference to continue shopping from foreign retailers after borders reopen. This high consumer demand positions Singapore as a key market for international retailers,” said Caecilia Chu, Co-founder and CEO of YouTrip.

She added, “The continuation of this digital habit is also exciting for us at YouTrip, as we double down on our innovation and expand our e-commerce offerings to offer consumers a convenient, reliable payment experience with the best exchange rates.”

Offering true value to YouTrip consumers

YouTrip continues to lead the multi-currency market with its unique edge of being the cheapest way to pay online through best exchange rates and with no markups in  over 150 currencies. Recognising that shoppers always care for a great deal, YouTrip has also developed their blog into a one-stop resource guide with curations of online shopping deals & shipping guides for the price-conscious.

Singaporeans’ top 10 overseas shopping sites

Overseas shopping websites that YouTrip users in Singapore purchased from (July 2020 – July 2021)

About YouTrip

YouTrip is a regional financial technology startup, dedicated to creating the best mobile financial services for travellers across Southeast Asia by simplifying overseas spending and creating a fuss-free travel experience. YouTrip first launched in Singapore in 2018 and subsequently in Thailand in 2019.

For more information, please visit www.you.co

#YouTrip

SINGAPORE – Media OutReach – 28 July 2021 – Cisco is proud to announce that 14 Cisco women have been listed as finalists of the new-look Women in ICT Awards (WIICTA). The WIICTA awards housed a record-breaking number of submissions this year, in what will be the largest celebration of female excellence within the technology channel across Southeast Asia.

Representing the entire ASEAN ICT industry ecosystem, 160 finalists (150 individuals and 10 companies) made the shortlist from a pool of more than 65 organizations and over 220 nominations, spanning partner, vendor and distributor businesses.

Vicki Batka, Vice President, APJC Partner Sales for Cisco who is also the executive sponsor for Cisco’s Women of Cisco Asia Pacific, Japan and Greater China chapter, has explained that the women who made the finalist list this year truly recognize and embody the unique strengths, vision, and achievements of female leaders in the IT channel across the region. 

“On top of everything that has happened over the past 18 months, these exceptional women on this list have pushed forward with innovative business plans, marketing initiatives and other comprehensive route to market initiatives to support our partners and customers, helping them through the uncertainty brought on by the global pandemic. Cisco celebrates these exceptional women for their leadership, dedication and commitment to the channel and our partners,” said Batka.

The 14 Cisco finalists are listed below:

• Angeline Ong
• Atitaya Surapunthu  
• Deborah Wong
• Farah Darlina
• Fidi Putri  
• Huong Nguyen
• Jina Park  
• Kerri Lampard
• Lynette Lim  
• Maria Eva Kalaw  
• Michelle Teo
• Sarah Quinto  
• Ulrike Agostin  
• Vicki Batka

 “Channel Asia congratulates Cisco on having 14 finalists named, with strong representation in every award category,” said Cherry Yumul, vice president of Strategic Partnerships and Innovation at IDG. “We applaud your standout contribution in helping to set an industry benchmark for female achievement across Southeast Asia.

“This year’s WIICTA has generated a volume and calibre of nominees that have set new standards in the award’s history. This is an encouraging sign of a positive trend that gender diversity is high on the corporate agenda of more and more businesses in ASEAN.

“This is not just to tick a box or meet a quota, but evidently, to bring in alternative viewpoints for problem-solving and different leadership styles for competitive advantage, in turn delivering better returns.”

Reflective of a diverse technology network – and a thriving channel community – over 25 partner companies are in the spotlight, in addition to more than 30 vendors and four distributors.

Within this standout group of finalists, female leaders are located across the entire region, spanning Singapore, Malaysia, Indonesia, Philippines, Thailand and Vietnam.

All career stages are in the spotlight from graduate-level entrants to well-established CEOs, in addition to inspiring entrepreneurs, creative thinkers and technical experts, as well as talent rising through the ranks and consistently high-performing individuals. This is also supported by both individual and company champions of D&I initiatives.

Collectively, WIICTA in 2021 stands tall as the leading forum for setting the industry benchmark for female achievement across Southeast Asia.

Shaped by the feedback of more than 50 leading female technology executives, WIICTA – now in its 10th year of running – will honour the channel across eight categories, spanning Innovation, Technical, Entrepreneur, Graduate, Rising Star, Shining Star, Achievement and D&I Champion (Company and Individual) awards.

The winners will now be selected by an executive panel of more than 45 industry judges – acknowledging creativity, innovation and excellence – before being announced at a virtual celebration event on Thursday, 5 August.

Read the full article on Channel Asia : https://www.channelasia.tech/article/689208/channel-asia-unveils-record-breaking-number-finalists-new-look-women-ict-awards/

Find out more about the Women in ICT Awards: https://www.channelasia.tech/wiicta/

About Cisco

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