eCommerce market in Singapore
Singapore is the 45th largest market for eCommerce with a predicted revenue of US$6,593.9 million by 2023, placing it ahead of Czechia. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.2%, resulting in a projected market volume of US$10,453.4 million by 2027. With an expected increase of 17.2% in 2023, the Singapore eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Singapore, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Singapore eCommerce market. Fashion is the largest market and accounts for 29.1% of the Singapore eCommerce revenue. It is followed by Food & Personal Care with 25.0%, Electronics & Media with 23.3%, Furniture & Appliances with 13.1%, and Toys, Hobby & DIY with the remaining 9.5%.
Market development
eCommerce revenue development in Singapore
Singapore is the 45th largest market for eCommerce with a predicted revenue of US$6,593.9 million by 2023, placing it ahead of Czechia. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.2%, resulting in a projected market volume of US$10,453.4 million by 2027. With an expected increase of 17.2% in 2023, the Singapore eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Singapore, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Singapore eCommerce market. Fashion is the largest market and accounts for 29.1% of the Singapore eCommerce revenue. It is followed by Food & Personal Care with 25.0%, Electronics & Media with 23.3%, Furniture & Appliances with 13.1%, and Toys, Hobby & DIY with the remaining 9.5%.
eCommerce revenue development in Singapore
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 25.7 | 43.4 | 9.3 | 16.5 | 0.3 | 6.8 | 41.5 | 95.6 |
| AOV (in US$) | 17.8 | 30.3 | 17.8 | 90.3 | 59.3 | 11.0 | 89.8 | 23.7 |
| CVR (in %) | 25.7 | 43.4 | 9.3 | 16.5 | 0.3 | 6.8 | 41.5 | 95.6 |
Top stores
Top five online stores in Singapore by net sales 2021
The biggest player in the Singapore eCommerce market is apple.com. The store had a revenue of US$209.2 million in 2021. apple.com is followed by amazon.sg and nike.com as the second- and third-largest stores with US$153.7 million and US$58.1 million, respectively. Altogether, the top three stores account for 32.5% of the top 100 online stores' revenue in Singapore. Store rankings include every store that generates revenue in Singapore. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Singapore was considered.
eCommerce net sales generated in Singapore in 2021
Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed
Source: Annual report, secondary sources, ecommerceDB analysis
| no-access-0 | no-access-1 | no-access-2 | no-access-3 | no-access-4 | |
|---|---|---|---|---|---|
| Filtered revenue (in mUS$) | 900.0 | 550.0 | 470.0 | 430.0 | 370.0 |
| Share of global revenue (in %) | 20.7 | 12.0 | 3.9 | 20.6 | 20.7 |
| Global revenue (in mUS$) | 8,300.0 | 4,600.0 | 1,190.0 | 2,122.0 | 1,814.0 |
| Growth global revenue (in %) | 8.3 | 12.4 | 33.6 | 18.0 | 12.6 |
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