Yahoo unveils Singapore e-commerce service

According to a Yahoo Southeast Asia spokesman, the e-commerce platform is an example of Yahoo’s ‘open strategy’, which allows third parties to create products for Yahoo’s pages.

The platform's launch comes a month after Yahoo closed its Singapore Auctions service. To create a differentiated product, Yahoo partnered with Gmarket - an online auctions provider popular in markets such as South Korea - to release its updated e-commerce site.

According to Yahoo, the forum allows sellers to offer services such as fixed-price trading, price bargaining and discount coupon options to customers.

While the site is in its trial stage, sellers can register for free as well as create digital storefronts and set up loyalty services such as mileage-points programs.

Though Yahoo has plans to cut spending and potentially lay off staff within the region, the portal has turned to independent developers to launch services and products to sustain its lead in local markets.

“The partnership with Gmarket is just the start of Yahoo’s Open Strategy for publishers in this region,” said head of business development for Yahoo Southeast Asia Fernando Pizarro. “We welcome more online companies into the Yahoo network, to help them with distribution and, at the same time, become more essential for online users.”