Singapore’s e-commerce market hit USD 102.9 billion in 2024 and is projected to reach USD 309.6 billion by 2033, growing at a 13.02% CAGR.
As indicated in the latest market research report published by IMARC Group, titled “Singapore E-commerce Market Report by Type (Home Appliances, Apparel, Footwear and Accessories, Books, Cosmetics, Groceries, Others), Transaction (Business-to-Consumer, Business-to-Business, Others), and Region 2025-2033,” this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market.
Market Size & Future Growth Potential:
The Singapore e-commerce market size reached USD 102.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 309.6 Billion by 2033, exhibiting a growth rate (CAGR) of 13.02% during 2025-2033.
Latest Market Trends:
Current Singapore trends in e-commerce show the rapid uptake of Augmented Reality (AR) and Virtual Reality (VR). AR and VR allow consumers to visualize how a product – a piece of furniture or a lipstick, for example – would look inside their home and in the color or makeup shade of their choice, thus minimizing purchase uncertainty and returns. Online retailers adopt AI (artificial intelligence) with ML (machine learning) technologies. The retailers can then provide very personalized shopping experiences. These experiences include customized product recommendations, size predictions, and individual shopper discounts for each person.
This is based upon users’ browsing habits product preferences and prior purchases. Shoppers want this integration now. This means that many shoppers expect to experience consistency across social media, brand websites, and physical retail stores, such as they can check out in one place after adding a product within another place. A growing trend in impulse buying is the “live commerce” model for shopping and instant purchasing through live videos on TikTok, Instagram, and other platforms. With an increase in sustainability, consumers are becoming ever more attracted to brands transparent with ethically sourced materials and environmentally friendly packaging.
Market Scope and Growth Factors:
Singapore’s e-commerce market has been helped by the country’s infrastructure and technology ecosystem, internet penetration, high e-commerce penetration, and increased wealth. The e-commerce market in the city is supported by the country’s digital infrastructure, as it has a near-universal penetration of high-speed Internet in the densely populated island-state, coupled with its highly developed logistics infrastructure, which enables deliveries on the last mile and to high-rise residential buildings. With the high penetration rate of smartphones, m-commerce becomes the most widely used way for consumers to buy products and services online at any time and from any place.
Singaporeans’ digital literacy skills have increased over past years. Trust in secure digital payment services is growing. Real-time bank transfer services exist. E-wallet services such as PayNow and GrabPay exist. Barriers to e-commerce have continued to come down. The government introduced initiatives such as the SMEs Go Digital program for assisting SMEs through tools and funding so that they build and grow an online business inside a broader digital economy. Competition also drives when consumer expectations change for convenience, product choice and prices, and international e-commerce companies enter and expand.
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Recent News and Developments:
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/singapore-ecommerce-market
Comprehensive Market Report Highlights & Segmentation Analysis:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Singapore E-commerce Market Share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Segmentation by Type:
Segmentation by Transaction:
Segmentation by Region:
Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Key highlights of the Report:
Major Advantages of the Report:
Why Choose IMARC Group:
Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.
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