Amazon Report on e-commerce Export Opportunities for Singapore MSMEs

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Amazon Report on e-commerce Export Opportunities for Singapore MSMEs

The value of B2C (business-to-Consumer) e-commerce exports by Singapore is estimated to be around $1.03 billion in the year 2021, according to a report by Amazon. The report states that if MSMEs (micro, small and medium-sized enterprises) increases their use of e-commerce for selling their products and services across the world then the value of e-commerce exports by Singapore could reach around $2.6 billion in the year 2026.

MSMEs are expected to contribute around 45 per cent of the Asian country’s e-commerce exports this year. The said report has been prepared by a consultancy firm named AlphaBeta, which is one-of-its-kind when it comes to analyzing the size of Singapore’s e-commerce potential and the best practices to tap into that potential. The report surveyed more than 300 MSMEs and was released at Amazon’s 2021 Expo, seller boot camp.

If the existing trends continue, the e-commerce exports could grow by 5 per cent per year, and will reach around $1.2 billion in value by 2026 as per the report. However, the report also says that if MSMEs increases their use of e-commerce then the exports could hit the 2.5 billion mark by 2026.

The Head of Amazon global selling, Southeast Asia, Bernard Tay said that the company wants to help MSMEs in expanding their business operations. He further said that local businesses irrespective of their size can use this report to better understand various topics, from export regulations and business models to foreign competition and consumer needs. He went on to say that the report together with Amazon’s very first seller boot camp has provided small entities with an ideal opportunity to identify and resolve the existing loopholes in their operations as well as equip themselves with the connections and resources they need to grow their business operations. The Seller Boot Camp is an event organized by Amazon with the aim to provide help to small businesses with resources and tools to boost customer reach and to expand business operations globally.

Push Digits Global is a leading provider of accounting and bookkeeping services for small businesses with specialization in e-commerce accounting. We use latest accounting tools and equipment including artificial intelligence to conduct the work of our clients. Our technology helps us to quote affordable prices to our clients. This helps them to control their expenses which is significantly important for any small business or entrepreneur.

 

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