Each month, 480,000 users, almost 1 in 2, visit LiveJournal to shop, according to a December survey from a sample of LiveJournal’s 1.2 million Singaporean users.
LiveJournal has more than 50,000 blogshops and these are predominantly run by female users who sell a range of goods including clothes, fashion accessories and stuff used at home.
The newly released survey also shows that blogshops have on average 8 transactions per month with a per-item sales price of US$15.
In total, US$6 million worth of blogshop transactions flow through LiveJournal Singapore each month.
“We are extremely impressed with the Singapore e-commerce market and are happy to drive up to US$74 million of e-commerce this year,” said Annelies van den Belt, CEO of SUP Media, the owner of LiveJournal.com.
Singapore has experienced organic growth for blogshopping and gradually become a preferred way for Singapore entrepreneurs to enter business.
About 80 percent of the blogshops make less than US$386 a month. The blogshops are still not a career switch option for their owners because only 10 percent of the blogshops earn more than US$1,544 per month and to date the highest monthly revenue has been US$15, 438.
A very small percentage, less than 4 percent, of the active bloggers and blogshoppers use paid advertising to drive online traffic.
In the next three months, LiveJournal intends to launch a series of improvements to the blogshopping experience for both buyers and sellers on www.livejournal.sg.
“With the total e-commerce market estimated at US$1.2 billion this year, we are proud to see that LiveJournal transactions might represent a staggering 6 percent of that, re-affirming us as one of the largest e-commerce players in Singapore,” said Roshni Mahtani, CEO of Tickled Media, the publisher of LiveJournal in the South-East Asian markets. “The world is bound for an economic slowdown in 2012, but we believe blogshopping will continue to grow here as e-commerce truly represents the most cost-effective way to do business.”
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