With an internet penetration of 81 per cent and an increasingly tech-savvy population, Singaporeans have taken their favourite pastime, shopping, online.
According to a report by Euromonitor International, Singaporeans spent about SG$689 million (approx. US$523 million) online over the last year.
The market research company compiled the figure by adding up all individual transactions made by Singapore credit cards on both international and local websites.
Euromonitor International tracked that 60 per cent of items purchased online were clothes, consumer electronics and footwear. Other popular sectors include healthcare products and groceries.
Based on numbers compiled by Euromonitor International, Singaporeans are expected to spend over S$716 million (US$546 million) online this year.
Last year, the firm forecast that by 2012, online retail sales would reach more than US$71 billion across Asia-Pacific.
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