Singapore Market

Singapore is a well-known economically developed country in Asia and is known as one of the four Asian tigers. Although its economy is small, it has extremely high economic competitiveness on a global scale. Singapore’s economy is characterized by an open, export-oriented and service industry. According to authoritative media reports, the inflation rate in Singapore has been at a high level recently, and the rising cost of living has become one of the biggest problems for residents.


June is the mid-year promotion month in Singapore, so in Singapore, where prices are soaring, how do Singaporean consumers respond to promotional activities? Buying discounted items with high unit prices during a big sale, or stocking up on daily necessities in large quantities is a well-known money-saving trick. During the mid-year promotion in June, the combined sales of Shopee and Lazada in Singapore reached US$342 million.

On the Shopee platform, electronic products and accessories with high unit prices have the highest market share, with a sales volume of US$56.88 million. The best-selling products on Lazada are TVs and home appliances, with a sales volume of 39.1 million US dollars, of which the sales of products with a price of 500-1000 US dollars account for the highest proportion. In June 2023, the sales of grocery and pet categories on the Shopee and Lazada platforms in Singapore totaled US$48.9 million, accounting for 14.6% of the overall market share.

What is in this datapack

In the datapack we provide our estimates of the Shopee and Lazada sales in June 2023 (separate file for each platform) for Singapore market, broken down by product categories.

We provide such numbers as total SKUs with sales, number of sales, revenue (both in local currency and in USD), distribution of sales by the price range of items. Where relevant, we show internal categories of product groups.

We list top 5 products (by revenue) in each category, their price, sales volume, name and picture.

Notification of Update

Starting from February 2023, TMO no longer releases monthly South East Asia eCommerce sales estimates of the six Southeast Asian countries. Instead, we will refer to Shopee and Lazada’s marketing calendars to collect and publish sales estimates for the selected country each month. To enhance readers’ understanding of the top products, we will also translate the parts containing local languages into English.

The country plan for 2023 is as follows: Thailand for February issue, Malaysia for March issue, Vietnam for April issue, Indonesia for May issue, Singapore for June issue, the Philippines for July issue, Vietnam for August issue, Thailand for September issue, Malaysia for October issue, Singapore for November issue, and the Philippines for December issue.

At the same time, we will delve into various industries, continuously releasing industry outlooks to meet readers’ needs for focused attention on specific industries. In December 2022, TMO already published the first issue of Southeast Asia Cosmetics and Makeup Market Outlook. Furthermore, TMO will be introducing additional industry outlooks to furnish readers with comprehensive insights into segmented market trends, enabling them to make informed business decisions. Stay tuned!

If you are looking to dive deeper into Southeast Asia’s eCommerce market, look no further than our expert team! With our thorough research and analysis, you’ll gain a deep understanding of your niche, including market structure, size, and emerging trends. We’ll also provide invaluable insights on price ranges, top-selling items, and popular brands to help you stay ahead of the competition.

Get in touch today to learn more about how we can help you unlock the full potential of Southeast Asia’s eCommerce market!