Singapore is the smallest of the six core Southeast Asian e-commerce markets by GMV, but it tells one of the most strategically interesting stories in the region. Unlike Indonesia, Thailand, or the Philippines, where the platform landscape has consolidated sharply around one or two players, Singapore retains a genuinely competitive three-platform dynamic heading into 2026.
Cube tracks gross merchandise value (GMV) across Shopee, Lazada, and TikTok Shop in Singapore on a monthly basis, covering all major physical goods categories. This article draws directly on that data to give brands, investors, and e-commerce teams an accurate and current picture of the market.
Source: Cube Tradewinds Q4 2025 dataset. All figures are estimates covering physical goods GMV on these three platforms and do not represent total e-commerce in Singapore.
How large is the Singapore e-commerce market?
Based on Cube’s Tradewinds dataset, combined GMV across Shopee, Lazada, and TikTok Shop in Singapore reached USD 7.7 billion in FY 2025, up 4% from USD 7.4 billion in FY 2024. These three platforms account for the dominant share of organised e-commerce activity in the country, though the figures do not capture the full market including direct-to-consumer sites and other channels.
The modest 4% aggregate growth conceals three very different platform trajectories running simultaneously. Shopee grew 10%. TikTok Shop grew 24%. Lazada contracted 23%. As with other SEA markets, the headline number understates the competitive shift happening beneath it.
Singapore is distinctive in one important way: Lazada retains a meaningful 22% share of combined platform GMV here, compared to just 9% across SEA-6 as a whole. For brands, that makes Singapore the one market in the region where a three-platform strategy is still genuinely necessary.
Platform breakdown: the most competitive market in SEA
Shopee: the largest platform, but not as dominant as elsewhere
Shopee holds 48% of combined platform GMV in Singapore in FY 2025, up from 45% in FY 2024. That share is meaningful but notably lower than its 59% share across SEA-6 as a whole. Singapore is the market where Shopee’s dominance is most contested.
Shopee Singapore GMV reached USD 3.7 billion in FY 2025, supported by 42 million orders from approximately 4 million shoppers. Purchase frequency is high at 10.1 orders per shopper per year, consistent with Shopee’s pattern across the region. Average order value was SGD 25 per transaction.
Electronics and appliances is Shopee Singapore’s largest category at 21% of GMV, up from 17% in FY 2023. This shift is notable because electronics typically concentrates on platforms with strong authenticity credentials. It suggests Shopee’s brand infrastructure in Singapore has strengthened. Fashion and apparel follows at 17%, while beauty and personal care has declined from 18% in FY 2023 to 14% in FY 2025, consistent with TikTok Shop capturing beauty volume across the region.
TikTok Shop: growing steadily in a mature market
TikTok Shop Singapore GMV reached USD 2.4 billion in FY 2025 (+24% YoY), holding 31% of combined platform GMV, up from 26% in FY 2024. Its growth rate of 24% is slower than its SEA-6 average of 66%, which reflects Singapore’s status as a more mature and more competitive digital market rather than a slowdown in the platform’s fundamentals.
TikTok Shop Singapore has 2 million shoppers with an average of 11.9 orders per shopper per year, the highest purchase frequency of any platform in the market. Its average order value of SGD 25 is identical to Shopee’s, which is a different pattern from markets like the Philippines where TikTok Shop’s AOV is significantly lower. Singapore consumers on TikTok Shop are spending at the same rate per transaction as Shopee consumers, suggesting a more affluent and deliberate buyer than the impulse-driven profile seen in other markets.
Fashion and apparel is TikTok Shop Singapore’s dominant category at 36% of GMV, growing from 31% in FY 2023. Beauty and personal care follows at 24%, up from 17% in FY 2023. These two categories together account for 60% of TikTok Shop’s Singapore GMV. The platform’s live-selling infrastructure has made it the primary channel for fashion and beauty discovery in Singapore.
Lazada: most relevant in Singapore of all SEA-6 markets
Lazada Singapore GMV fell to USD 1.7 billion in FY 2025, down 23% from USD 2.2 billion in FY 2024. Its share of combined platform GMV dropped from 29% to 22%. The decline is real, but Singapore is where Lazada’s position is most defensible compared to any other market in the region.
Two factors explain this. First, Singapore consumers have higher purchasing power and a stronger preference for official brand stores and authenticated products, which aligns with LazMall’s positioning. Second, Lazada’s average order value in Singapore at SGD 39 per order is the highest of the three platforms, 56% higher than both Shopee and TikTok Shop at SGD 25. This premium positioning is more sustainable in Singapore than in price-sensitive markets elsewhere in SEA.
Electronics and appliances accounts for 25% of Lazada Singapore GMV, its largest category, consistent with where brand authentication matters most to consumers. Fashion and apparel at 23% is Lazada’s second largest category here, a higher fashion share than in most other markets it operates in. A notable data point is Hobbies and Toys, which grew from 4% of Lazada Singapore GMV in FY 2023 to 7% in FY 2025, the strongest category growth on the platform in this market.
What the category data means for brands in Singapore?
Combining the category-level GMV shares across all three platforms reveals dynamics specific to Singapore that differ from the broader SEA pattern.
Electronics and appliances is the most evenly distributed category across all three platforms in Singapore. Shopee is the largest electronics channel in absolute terms, with electronics accounting for 21% of its GMV. Lazada’s highest category concentration is also in electronics at 25% of its GMV, reflecting LazMall’s strength in this category. TikTok Shop’s electronics share is 10%. For electronics brands, a presence across all three platforms in Singapore captures the broadest possible reach.
Fashion and apparel tells a different story by platform. TikTok Shop Singapore’s fashion share of 36% is its single largest category and significantly higher than its fashion share in other SEA markets. Shopee’s fashion share is 17% and Lazada’s is 23%. Singapore fashion consumers appear to be particularly receptive to the social commerce and live-selling model that TikTok Shop is built on.
Beauty and personal care is undergoing the same structural migration in Singapore as in the rest of the region, but from a different starting point. TikTok Shop’s beauty share has grown from 17% in FY 2023 to 24% in FY 2025. Shopee’s beauty share has declined from 18% to 14% over the same period. The migration from Shopee to TikTok Shop in beauty is consistent and measurable.
Consumer behaviour: how Singapore shoppers differ from the rest of SEA
Higher AOV across the board. Singapore has the highest average order values of any SEA-6 market Cube tracks. Shopee and TikTok Shop both recorded SGD 25 per order in FY 2025, while Lazada’s SGD 39 reflects its concentration in premium and higher-ticket purchases. The equal AOV between Shopee and TikTok Shop is also notable: in most other SEA markets, TikTok Shop carries a meaningfully lower AOV than Shopee, driven by impulse-driven social commerce purchasing at lower price points. In Singapore, the two platforms are at parity, suggesting a more considered and higher-spending buyer profile on TikTok Shop here than elsewhere in the region.
TikTok Shop’s purchase frequency is the highest in the market. At 11.9 orders per shopper per year, TikTok Shop Singapore shoppers buy more frequently than Shopee shoppers (10) and significantly more than Lazada shoppers (6). This is the inverse of the pattern in the Philippines, where TikTok Shop had the lowest frequency. It suggests Singapore’s TikTok Shop user base is more habitual and more engaged than in earlier-stage adoption markets.
Lazada retains a real shopper base. At 2 million shoppers in FY 2025, Lazada Singapore’s audience is the same size as TikTok Shop’s. The difference is in frequency: Lazada shoppers placed 6 orders per year compared to TikTok Shop’s 11.9. Lazada is not losing shoppers in Singapore at the same rate it is losing them elsewhere. It is losing purchasing occasions.
What this means for brands in Singapore?
Singapore requires a genuine three-platform strategy, unlike most of the region. In Indonesia, Thailand, and Vietnam, Lazada’s share of combined platform GMV has declined to single digits. In Singapore it is 22%. Brands that have de-prioritised Lazada in their SEA strategy based on regional data should treat Singapore as an exception that warrants a separate allocation decision.
Fashion and beauty brands need TikTok Shop in Singapore. TikTok Shop’s combined fashion and beauty GMV share of 60% in Singapore is the clearest signal that live-selling has become the primary discovery channel for these categories in this market. Brands without a live-selling operation on TikTok Shop Singapore are competing for a declining share of purchasing occasions on other platforms.
Electronics brands face the broadest distribution challenge. With meaningful electronics GMV on all three platforms, Shopee (21%), Lazada (25%), and TikTok Shop (10%), electronics brands cannot concentrate on a single platform and reach the full market. The relatively even distribution reflects both LazMall’s authenticity positioning and Shopee’s growing electronics credentials in Singapore.
Track Singapore with Cube
Cube’s Tradewinds dataset provides monthly GMV and NMV estimates across Shopee, Lazada, and TikTok Shop for all six core SEA markets, including Singapore, with historical data from 2022.
Our Astro category tracker provides brand and SKU-level sales tracking, competitive benchmarking, assortment insights, and pricing intelligence for brands operating across e-commerce platforms in Southeast Asia.
Frequently Asked Questions
What is the size of the e-commerce market in Singapore?
Based on Cube’s Tradewinds dataset, combined GMV across Shopee, Lazada, and TikTok Shop in Singapore was USD 7.7 billion in FY 2025, up 4% from USD 7.4 billion in FY 2024. These figures cover physical goods only and do not represent total e-commerce in Singapore, which includes direct-to-consumer and other channels.
What is Shopee's market share in Singapore?
Shopee held 48% of combined platform GMV in Singapore in FY 2025, up from 45% in FY 2024. Its Singapore GMV grew 10% year-on-year to USD 3.7 billion. Shopee’s share in Singapore is lower than its 59% share across SEA-6 as a whole, reflecting a more competitive three-platform market.
Is Lazada still relevant in Singapore?
Yes, and more so than in any other SEA-6 market. Lazada holds 22% of combined platform GMV in Singapore in FY 2025, compared to just 9% across SEA-6. Its average order value of SGD 39 is the highest of the three platforms, reflecting its positioning around premium and branded purchases, particularly in electronics and fashion.
How fast is TikTok Shop growing in Singapore?
TikTok Shop Singapore GMV grew 24% in FY 2025 to USD 2.4 billion, holding 31% of combined platform GMV. Its growth rate is slower than the SEA-6 average of 66%, consistent with Singapore being a more mature digital market. TikTok Shop Singapore’s purchase frequency of 11.9 orders per shopper per year is the highest of any platform in the market.
What are the top product categories on Shopee Singapore?
Based on Cube’s FY 2025 data, the top categories by GMV share on Shopee Singapore are electronics and appliances (21%), fashion and apparel (17%), and beauty and personal care (14%). Electronics has grown as a share of Shopee Singapore GMV from 17% in FY 2023, while beauty has declined from 18% over the same period.
What is the average order value on Shopee Singapore?
SGD 25 per order in FY 2025. TikTok Shop Singapore’s AOV is also SGD 25, while Lazada’s is SGD 39. The equal AOV between Shopee and TikTok Shop in Singapore is distinctive: in other SEA markets, TikTok Shop typically carries a lower AOV than Shopee, reflecting a more impulse-driven buyer profile.
Which platform dominates fashion and beauty in Singapore?
TikTok Shop. Fashion and apparel accounts for 36% of TikTok Shop Singapore GMV and beauty and personal care accounts for 24%, giving these two categories a combined 60% share of the platform’s Singapore GMV. Both shares have grown over the past three years, driven by TikTok Shop’s live-selling infrastructure.
Disclaimer: The views expressed in this article are subjective and reflect the perspectives of the authors at the time of writing. They may change over time as new information becomes available. The data underlying these perspectives has been collected outside-in on a best effort basis. The sources used could not always be independently verified, and the accuracy of this data is not guaranteed. This article is intended solely for informational purposes and does not constitute financial or investment advice.
