Fashion market in Singapore

The Singapore Fashion eCommerce market is predicted to reach US$1,904.3 million by 2024 and accounts for 19.6% of the total eCommerce market in Singapore. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.6%, resulting in a projected market volume of US$2,645.0 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Monthly revenues

Monthly eCommerce revenues in the Singapore Fashion market

The monthly eCommerce revenue of the Singapore Fashion market was US$161 million in October 2024. This refers to a growth of 13.5% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in December 2023 with 9.2% of the total 2023 revenue of the Singapore Fashion market and the lowest in September 2024 with 7.4% of the total 2024 revenue.

Revenue Last Month

US$160.6m

The eCommerce revenue grew by 13.5% from September 2024 to October 2024.

10-2024+13.5%

Monthly revenue shares in the last 12 months

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)23.453.239.740.457.989.377.214.956.230.236.677.2

Market development

eCommerce revenue development in the Fashion market in Singapore

The Singapore Fashion eCommerce market is predicted to reach US$1,904.3 million by 2024 and accounts for 19.6% of the total eCommerce market in Singapore. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.6%, resulting in a projected market volume of US$2,645.0 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

eCommerce revenue development in the Fashion market in Singapore

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Fashion market in Singapore

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)84.212.565.669.674.54.312.822.3

Online share

eCommerce online share of the total Fashion market in Singapore

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 Fashion retail market, the online share is 21.8% and will increase by an average of 9.7% to 31.5% by 2028.

eCommerce online share of the total Fashion market in Singapore

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)75.5%34.3%19.2%93.1%64.2%98.0%76.5%20.1%

Top stores

Top five Fashion online stores in Singapore by net sales 2023

With sales in the Singapore Fashion market, shein.com generated a revenue of US$82.5 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Singapore is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Fashion market in Singapore in 2023

in million US$

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, ECDB analysis

Filtered revenue / share
Global revenue
Growth
no-access-0
US$900.0m
20.7%
US$8,300.0m8.3%
no-access-1
US$550.0m
12.0%
US$4,600.0m12.4%
no-access-2
US$470.0m
3.9%
US$1,190.0m33.6%
no-access-3
US$430.0m
20.6%
US$2,122.0m18.0%
no-access-4
US$370.0m
20.7%
US$1,814.0m12.6%

See further stores

Worldwide - Fashion Singapore - Fashion Singapore - All Categories

Shop Software Solutions

Top 5 used shop software solutions in the Singapore Fashion market

In the Singapore Fashion eCommerce market in 2023, Shopify is the leading shop software solution, used by over 36.6% of online retailers. Salesforce Commerce Cloud comes in second, but with a much lower usage rate of 9.9%. Meanwhile, WooCommerce, Shopcada, and Magento are used by a relatively small number of online retailers.

Top 5 used shop software solutions in the Singapore Fashion market

in %

Note: A store can use more than one shop software solution (Multi-pick), based on 101 stores in the Singapore Fashion market

Source: ECDB analysis

See all stores using

shop software shop software shop software

Market definition

Definition of the Fashion market

Market definition: Fashion The category Fashion encompasses the commercial (B2C) sale of apparel (e.g. jackets, t-shirts, joggers, underwear), footwear (e.g. sneakers, boots, sandals), bags (e.g. handbags, backpacks, suitcases), and accessories (e.g. hats, sunglasses, jewelry, watches) via digital channels. Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits), eye care (e.g. glasses and sunglasses with prescriptions) or beauty care (e.g. make-up, fragrances) are not included in this segment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Apparel (e.g. jackets, t-shirts, joggers, underwear)
  • Footwear (e.g. sneakers, boots, sandals)
  • Bags (e.g. handbags, backpacks, suitcases)
  • Accessories (e.g. hats, sunglasses, jewelry, watches)

Out-of-scope

  • Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits)
  • Eye care (e.g. glasses and sunglasses with prescriptions)
  • Beauty care (e.g. make-up, fragrances)