GMV of e-commerce market in Singapore 2019-2025

In 2023, the gross merchandise volume (GMV) of the Singapore e-commerce market amounted to eight billion U.S. dollars and was expected to reach 10 billion dollars by 2025. Singapore has established itself as the best-equipped e-commerce market in Southeast Asia.

Singapore’s success in e-commerce

Compared to its neighboring countries, Singapore's e-commerce market depends more on the quality and price of the products than on the number of sales. The high GDP per capita , the well- developed ICT infrastructure and the government’s interest in making Singapore a smart nation are the main reasons for its success. While the total revenue might not be as high as the largest e-commerce market in Southeast Asia, Indonesia, the revenue per order and the frequency of ordering online per person by far exceeds those for Indonesia. 

Main e-commerce players

Lazada, Qoo10 and Shopee were the most clicked e-commerce sites in Singapore as of the first quarter of 2022. While Shopee and Lazada primarily offer retailers to sell their own goods, Qoo10 is mainly popular for its wide range of Korean products.