eCommerce market in Singapore

Singapore is the 32nd largest market for eCommerce with a predicted revenue of US$9,705.6 million by 2025, placing it ahead of Czechia. Revenue is expected to show a compound annual growth rate (CAGR 2025-2029) of 10.5%, resulting in a projected market volume of US$14,459.4 million by 2029. With an expected increase of 13.6% in 2025, the Singapore eCommerce market contributed to the worldwide growth rate of 9.8% in 2025. Like in Singapore, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Singapore eCommerce market. Electronics is the largest market and accounts for 24.6% of the Singapore eCommerce revenue. It is followed by Fashion with 19.4%, Hobby & Leisure with 18.1%, Grocery with 12.4%, Furniture & Homeware with 11.9%, Care Products with 6.8%, and DIY with the remaining 6.8%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Singapore retail market, the online share is 18.5% and will increase by an average of 9.7% to 26.8% by 2029.

The biggest player in the Singapore eCommerce market is amazon.sg. The store had a revenue of US$239.2 million in 2024. Store rankings include every store that generates revenue in Singapore. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Singapore was considered.

With 86.7% Mastercard the most commonly offered payment method of all online stores in the Singapore eCommerce market in 2024. Like Mastercard VISA with a share of 85.6% and American Express with a share of 57.8% the payment type Cards is the most common used by online retailers in in the Singapore eCommerce market in 2024. Other commonly used payment methods in that market are PayPal (E-wallets) with 42.2% and Atome (Installment) with 26.7% of stores offering that payment method to the clients.

Although Shopify holds a commanding lead with 32.9% of online stores using the shop software solution, the Singapore eCommerce market in 2024 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including WooCommerce, Magento, Salesforce Commerce Cloud, and OpenCart, which collectively hold a significant share of the market.