In a way to replicate the success of Amazon’s Cyber Monday or Alibaba’s Singles Day online shopping carnival, Singapore-based cashback app Shopback is launching ShopFest, a platform that aggregates six different year-end shopping events organized by e-tailers including Shopee, Lazada, Taobao, and Qoo10.
Participating merchants include travel booking players like Booking.com and Expedia, sports brands like Nike and Under Armour, as well as tech and electronic companies like Microsoft and Lenovo.
ShopFest, kicking off on September 1, continues throughout rest of the year till January 3, 2019, and operates across seven countries in Asia. The fourth quarter of every year is always a big retail season for all e-commerce companies, said Ruoshan Tao, Head of Marketing, Shopee Singapore, on Thursday.
Takeaways:
– The fourth quarter of every year is always a bustling time for e-commerce companies, especially in Asia where there will be six big events throughout the second half of the year.
– Even physical retailers with no presence online are starting to jump on the shopping festival bandwagon, knowing that consumers are keen to spend money during this period while other e-commerce firms offer generous deals across the board.
– A Frost & Sullivan report stated that Singapore’s B2C e-commerce market saw a 33.1% quarter on quarter growth during the last three months ending December 2017.
Editor: Ben Jiang