E-commerce in Singapore - statistics & facts
Singapore is one of the most digitally mature societies in Asia, with universal access to high-speed internet. There is thus a high uptake of digital services such as e-commerce among its population. E-commerce usage has become part of everyday life among Singaporean consumers, buoyed by the convenience afforded by online shopping, as well as the increasing popularity of new models of digital commerce.
Singapore鈥檚 e-commerce market is constantly evolving, with new and more convenient forms of e-commerce being adopted rapidly. The e-commerce sector in Singapore will likely continue to increase its share of the retail market in the years ahead, as it has proven to become an integral part of everyday life among Singaporeans.
Growth and diversity in Singapore鈥檚 e-commerce market
Despite Singapore being the smallest e-commerce market in Southeast Asia, it is the most affluent. The size of the average e-commerce order value in Singapore amounted to 137.4 USD. Singaporeans also shopped online frequently, with more than half purchasing items online at least once a week. E-commerce users in Singapore are also diversifying their online shopping experience and not just limiting themselves to domestic e-commerce sites. Singapore is fast becoming a cross-border e-commerce hub in Southeast Asia.Singapore is home to Southeast Asia鈥檚 leading e-commerce marketplaces
Not only does Singapore have a thriving consumer e-commerce sector, but it is also home to two of Southeast Asia鈥檚 largest e-commerce operators 鈥 Shopee and Lazada. Shopee, owned by Singaporean tech unicorn Sea Limited, consistently ranks as the most visited e-commerce marketplace in Southeast Asia. Rocket Internet-owned Lazada has also ranked among the leading marketplaces in the region. However, both companies are facing competition from newer entrants vying for a share of the e-commerce GMV pie, particularly from social commerce sites such as TikTok Shop.Singaporeans are moving with the trends in e-commerce
The e-commerce landscape has long evolved from traditional marketplaces, incorporating trends in digital content consumption and utilizing popular forms of online media for commerce. Social media sites have become the next frontier in e-commerce. influencers and brands endorsing and selling products directly on their Instagram or TikTok channels, giving rise to social commerce. Smartphones have long since replaced laptops and desktop computers as the primary device used for e-commerce. This has given rise to mobile commerce, or m-commerce, making purchasing products and services faster, easier, and more convenient. It has also made it possible for consumers to incorporate online shopping with the offline, brick-and-mortar experience, giving rise to omnichannel retail.Singapore鈥檚 e-commerce market is constantly evolving, with new and more convenient forms of e-commerce being adopted rapidly. The e-commerce sector in Singapore will likely continue to increase its share of the retail market in the years ahead, as it has proven to become an integral part of everyday life among Singaporeans.
