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Singapore - Selling and buying

Contents extracted from the comprehensive atlas of international trade by Export Entreprises

Reaching the consumers

Marketing opportunities

Consumer behavior: Consumers keep in mind factors such as price, quality and service when making a purchasing decision.

After sales service is very important for the consumer in Singapore.

Singaporeans like new products, but they stay loyal to the brand names that they know.

Pricing has to be very competitive as bargaining is an acceptable shopping trait.

Consumer profile: The consumer in Singapore has high standard of living and is a keen buyer of foreign products. Singaporeans are not only brand conscious but are very loyal and cautious too. They like to experiment with new products after getting assured about its quality and customer care service. The purchasing power is at par with most of the European countries.
Main advertising agencies:

Distribution network

Evolution of the sector: With the improved economy of Singapore, increasingly affluent consumers are more willing to spend. In addition, various new shopping malls such as VivoCity, Central and Ang Mo Kio Hub all stimulated the retail scene. Existing shopping malls such as Centrepoint, Tampines Mall and White Sands were also revamped, with new extensions built to accommodate more retailers in order to remain competitive. The influx of retailers to these new selling spaces further attracted consumers who increasingly visited them at weekends.
Types of outlet:
The distribution sector in Singapore is similar to the western countries, with a domination of the large-scale distribution network which carries out the majority of retail sales. The high standard of living of the Singaporean and their taste for Western products attract a lot of foreign groups to this 640 km² territory.

Market access procedures

Economic Cooperation: Singapore does not belong to any Customs Union. It is a member of the Asia -Pacific Economic Cooperation (APEC).

It is a member of the ASEAN (Association of South-East Asian Nations), AFTA and the ASEAN - China Free Trade Area.

It is a member of the ASEM (reunión Asia-Europe) (inglés).

It is a member of the SEAT (Six East Asian Traders)

Singapore is a signatory to multilateral and bilateral agreements with many countries. Visit: IESinggapore.

Non tariff barriers:
Import procedures in Singapore are very liberal. Most goods can enter the Singaporean territory without any restriction. Only a few products, such as chewing gum and weapons are banned. There is a license system required for about 6% of the total amount of imports and concerns fresh fruits and vegetables, plants, meat, animals, medicines, broadcasting products (automatic licenses) and also some sensitive products likely to represent a risk for health or the State (non automatic licenses). These licenses are generally issued by the International Enterprise Singapore. Some other institutions may be involved such as the Ministry of Health.
Average Customs Duty (excluding agricultural products): Singapore is duty free except for products like automobiles, gasoline, tobacco, and alcohol. For more details, visit: Tariff Schedule
Customs classification: Singapore applies the Harmonized Customs System.
Import procedures: Firms importing goods into Singapore require making an inward declaration, in addition to having an import permit.

For details, visit: Import Procedure

Customs website: Singapore Customs

Organizing goods transport

Organizing goods transport to and from: Singapore has a well-developed and advanced transportation infrastructure.

 

The Port of Singapore , with 6 free-trade zones, is ranked second in the world in terms of container traffic. It is operated by Maritime and Port Authority of Singapore. It is also the world's busiest hub for transshipment traffic.

The airport of Singapore (international Changi airport) is considered as one of the best in the world. It is composed of two air terminals connected by monorail.

The road network consists of 8 highways. The objective of the Land Transport Authority (LTA), (under the Ministry of Communication and Information technology), is to promote ground transport for a better use of the city by developing public transport. The construction of 9 expressways and two highways (partially subterranean) of a total length of 155 km is in progress in the Eastern part of the island.

Airports:
Air transport organizations:
Rail transport organizations:

Domestic business directories

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