Market Share of Singapore E-Commerce Industry
In Singapore, the competition in the E-commerce market has increased as the customer's adoption of online sales channels has grown. The market is moderate. An increase aids this growth in internet penetration. Further, brands such as Lazada, Shopee, and many more expand their reach by providing customer-centric services that enhance customers' online shopping experience.
In March 2022, WEBUY, a Singapore-based social e-commerce business with offices in Malaysia and Indonesia, acquired Chilibeli, Indonesia's largest and most popular community group buying platform. WEBUY was likely to become the leading social e-commerce company in Singapore and Indonesia due to this purchase. Chilibeli, like WEBUY, uses a social group buys concept to optimize the supply chain and create revenue for group players.
In December 2022, Plugo, headquartered in Singapore, raised USD 9 million in a series A fundraising round. The business provides direct-to-consumer (D2C) firms with a full range of e-commerce support services, including building websites, setting up payment systems, managing marketing campaigns, and managing shipping, warehousing, and logistics.
Singapore Ecommerce Market Leaders
Lazada
Shopee
EZbuy
Amazon.com Inc
Sephora
*Disclaimer: Major Players sorted in no particular order
