The Italian Chamber of Commerce in Singapore (Iccs – Italian Chamber of Commerce in Singapore) in collaboration with Promos Italia (agency of the Italian Chamber of Commerce for the internationalization of companies) expands the Italian Gallery SG digital e-commerce platform with Italian companies operating in the cosmetics sector and strengthens Italy-Singapore exports in one of the most representative sectors of Made in Italy and with greater attractiveness for the Asian markets.
The project is the second developed by the Chamber on the e-commerce sector and involves the inclusion of 14 Italian companies active in cosmetics on two marketplaces, Lazada and Shopee, which, with over 3 million monthly visitors, are Southeast Asian reference platforms.
A market with interesting prospects: a study by Bain & Co in collaboration with Google estimates that the Internet economy in the Asean area will reach a value of 240 billion dollars by the end of 2025 of which over 40% related to e-commerce. Digital consumers have gone from 90 million in 2015 to 250 million in 2018 and are expected to grow to 310 million in 2025. 90% of online purchases are now made via smartphones and the consumer is extremely selective, coming to consult up to 4 platforms of e-commerce before purchasing.
Furthermore, from a given Iccs it emerges that the c osmetica made in Italy particularly attracts the oriental market, equally divided between men and women, who increasingly look to Western standards with regard to skin care, relying on quality products made in Italy and not only on Asian ones coming in particular from South Korea and Japan, which refer to to the tradition of local cosmetics.
This new initiative follows the Italian Gallery Sg project in food & beverage, active since mid-2020 in response to a year without trade fairs, corporate missions and events, which offers about 100 products including coffee, wines and preserves, belonging to various Italian companies. Iccs projects provides Italian companies with a service of market intelligence, their business knowledge, regulatory and logistics consultancy to allow Italian SMEs to reach Asian consumers even remotely. The Chamber does not sell products directly but provides advice on pricing and marketing activities, logistical support, creates contact with local importers and facilitates the presence of Italian companies and products on the main existing local online platforms.