6 in 10 Singaporeans say seller location will matter less by 2030

The shift reflects Singapore's expectation of a more borderless retail future.

Six in 10 Singaporean consumers believe that by 2030, the geographic location of sellers will have less influence on their purchasing decisions. 

The shift reflects Singapore's expectation that the future of retail will become more borderless, according to Stripe.

In a survey, Stripe also found that 75% of local consumers think buying products and services online from international sellers should be simpler than it currently is.

Local consumers indicate that AI will be essential for retail's transformation.

Based on the survey, 80% of Singaporean consumers believe that AI will make it easier to buy products and services online.

Consumers believe AI can add the most value to payments by preventing fraud and scams (57%), providing recommendations on deals (45%), and resolving purchase issues with AI-enabled chatbots (40%).

Whilst many believe it will soon be easier to buy products abroad, most are still discouraged by the complexities of cross-border commerce today.

Data from the Stripe survey showed that  65% of Singaporeans will not buy from international sellers if can't pay with their preferred payment method.