Qoo10, Singapore’s largest e-commerce marketplace, announced on Wednesday (14 February) a 14 percent growth in sales for January 2018, amounting to SGD$42 million.
The growth was driven by Food & Baby division with the sales of abalone and bak kwa, in preparation of the upcoming Chinese New Year celebrations.
The division concurrently broke its monthly sales record, raking in a total SGD$7.9 million for January2018, an increase of 30% fromits monthly average ofSGD$6 million.
“For this pre-Chinese New Year period, we managed to get the well-known brands such as New Moon for abalones, Kim Joo Guan and Fragrance for Bak Kwa to sell their products on Qoo10,” said Mr Sam Too, Qoo10’s General Manager and head of Qoo10’s Food & Baby division.
In January, sales for abalones peaked at more than SGD$1.5 million, while bak kwa contributed to almost SGD$0.5 million.
“This is definitely a good indicator that more shoppers are turning to e-commerce to get their CNY preparations done,” added Mr Too.
Qoo10 Singapore was launched in June 2010 and is now the No. 1 Singapore-based e-commerce platform (Alexa Country Rank#10), with 2.5 million registered users. With Singapore as the headquarter, Qoo10, a joint venture established between founder Mr. Ku Young Bae and eBay,has expanded its marketplacesto Japan, Korea, Indonesia, Malaysia, Hong Kong and mainland China.