A study commissioned by Airwallex in partnership with Statista has reportedly polled 1,000 cross-border eCommerce consumers residing in the business-focused city-state of Singapore.
It revealed that global purchasing is now a more established mainstream habit / consumer behavior trend amongst Singapore residents.
Consumers carry out purchases across the APAC region, as well as the US and Europe, looking for items in fashion (75%), skincare (60%), electronics (56%), as well as food and beverage (49%).
Consumers in Singapore are also “discerning and well-informed,” according to the update from global Fintech Airwallex.
As noted in a release from the cross-border payments Fintech, affordable shipping (97%), transparent fees (97%), and the possibility to use their preferred payment options (96%) rank among the primary factors impacting their decision to acquire items from global merchants.
Here are other key insights shared by Airwallex in a recent update;
- 98% of Singapore consumers are comfortable buying online from another country, compared to the global average of 89%.
- 69% of respondents make cross-border purchases at least once a month.
- 87% of shoppers typically purchase internationally from eCommerce platforms like Amazon, Lazada, Shopee, and Taobao.
Ershad Ahamed, Head of Southeast Asia, Airwallex:
“Singapore is one of the most digitally advanced consumer markets in the region. Shoppers here are globally minded, but they’re also extremely deliberate – they expect a fast, frictionless and secure checkout experience.”
Key trends from the study include:
- Singaporeans shop across borders, and often: Nearly 70% of online shoppers make international purchases at least once a month. They’re most likely to buy through marketplaces and are comfortable navigating international transactions across a wide range of categories.
- Purchase category and cross-border needs shape payment preferences: While credit cards remain the top choice (71%), over half (52%) prefer using digital wallets such as Apple Pay, Google Pay, or GrabPay. Notably, 67% say they use different payment methods depending on whether they’re shopping locally or internationally. Buy Now, Pay Later (BNPL) continues to grow in popularity – particularly for high-ticket purchases, and in categories like electronics, fashion, and skincare and beauty.
- Localised shopping moments drive cross-border sales: 93% of Singaporean shoppers say they plan purchases around major seasonal or sales events – including double-digit sales days (e.g., 11.11 and 12.12), Lunar New Year, Black Friday, and Hari Raya – presenting a major opportunity for global merchants to localise offers and messaging.
- Trust and transparency drive conversion: Consumers are more likely to complete an international purchase when their payment security concerns are addressed (96%), there is transparency around shipping costs (95%), and clear information is provided on currency conversion or hidden fees (95%).
- Checkout speed and simplicity are key: Shoppers overwhelmingly value transparent fees (97%), the ability to pay using their preferred payment methods (96%), and the mobile friendliness of the checkout process (94%). Around one in two say being redirected to a different payment page makes them feel less secure about completing their purchase.
With the majority or 96% of consumers claiming they’re aware whether a purchase is local or cross-border, it’s clear “that payment experiences need to reflect that distinction.”
Airwallex is helping businesses meet these expectations by enabling faster, localised payment experiences for eCommerce platforms – from card acquiring and over 160 local payment methods with multi-currency settlements, to supporting multi-currency accounts that enhance customer collections and vendor payouts.
With more Singaporean consumers buying across borders, Airwallex is supporting international service providers aiming to reach the market and Singapore businesses looking to scale beyond it as well.