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GMV of e-commerce market in Singapore 2015-2025

The gross merchandise volume (GMV) of the Singaporean e-commerce market amounted to approximately two billion U.S. dollars and is expected to reach seven 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 in 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 third quarter of 2019. While Shopee and Lazada primarily offer retailers to sell their own goods, Qoo10 is mainly popular for its wide range of Korean products.

Annual gross merchandise volume (GMV) of the e-commerce market in Singapore in 2015 and 2019 and a forecast for 2025

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Sources

Release date

October 2019

Region

Singapore

Survey time period

2015 and 2019

Supplementary notes

*Forecast.
Gross merchandise value (GMV) is the total value of merchandise sold over a given period of time through a customer-to-customer (C2C) exchange site.

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Statistics on "Internet usage in Singapore"

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