Qoo10 Singapore's retail sales doubles to $10m

It's a bounty year.

According to a release, Qoo10 Singapore announced its quarterly retail performances for the year of 2012 – its online retail has more than doubled within the year to reach SGD10 million and is set to hit SGD14 million for the holiday month of December.

The December forecast marks a jump of nearly three times from December 2011 at SGD5 million and about 10 times from December 2010 at SGD1.61 million.

The traditional best-selling segment has been fashion. In December 2011, it hit SGD2 million, or 35 per cent of the overall monthly sales. A strong contender to fashion is the digital and mobile segment.

As the fastest rising product category, the digital and mobile sales has more than doubled within the year, from SGD1 million or 20 per cent of January 2012 sales to reach SGD3 million or 27 per cent of November 2012 sales.

Qoo10 Singapore Country Manager, Mr Hyun Wook Cho said, “The exponential increase in Qoo10 Singapore sales has made 2012 an exceptional year and provided confirmation of the potential in the e-commerce industry. Consumer sentiments have always been kind towards us and we bring their blessings as we approach the holiday online shopping season. December is the traditional period to hit sales peak and we are optimistic about reaching the SGD14 million target. This would definitely be an exclamation mark to our phenomenal year of highlights and achievements.”