"Mobile shoppers constituted nearly half of all online shoppers in Singapore last year," said Ghanem based on the PayPal Online and Mobile Shopping Insights study conducted by PayPal and The Nielson Company.

The mobile commerce market in Singapore grew from S$43 million in 2010 to S$328 million in 2011, and is forecasted to grow ten-fold to reach S$3.1 billion in 2015, according to the study.

"As we had predicted, 2011 was a blockbuster year for mobile commerce in Singapore. Retailers are waking up to the fact that they need to offer 'anytime anywhere' mobile shopping experiences for their customers," said Ghanem.

"It is important for businesses, locally, to adapt to the changing consumer shopping behaviour and have a mobile solution or they will lose out," warned Ghanem.