Fashion market in Singapore
The Singapore Fashion eCommerce market is predicted to reach US$1,696.5 million by 2024 and accounts for 19.9% of the total eCommerce market in Singapore. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.7%, resulting in a projected market volume of US$2,368.2 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
Monthly revenues
Monthly eCommerce revenues in the Singapore Fashion market
The monthly eCommerce revenue of the Singapore Fashion market was US$146 million in November 2024. This refers to a growth of 1.7% compared to October 2024. Within the last 12 months, the monthly revenue share was the highest in December 2023 with 9.2% of the total 2023 revenue of the Singapore Fashion market and the lowest in September 2024 with 7.4% of the total 2024 revenue.
Revenue Last Month
US$145.6m
The eCommerce revenue grew by 1.7% from October 2024 to November 2024.
Monthly revenue shares in the last 12 months
0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Monthly revenue share (in %) | 6.1 | 22.2 | 51.3 | 5.8 | 0.9 | 22.5 | 98.2 | 82.1 | 98.0 | 39.7 | 82.9 | 39.5 |
Market development
eCommerce revenue development in the Fashion market in Singapore
The Singapore Fashion eCommerce market is predicted to reach US$1,696.5 million by 2024 and accounts for 19.9% of the total eCommerce market in Singapore. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.7%, resulting in a projected market volume of US$2,368.2 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
eCommerce revenue development in the Fashion market in Singapore
eCommerce revenue growth in the Fashion market in Singapore
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 3.4 | 21.2 | 25.6 | 76.8 | 89.3 | 37.0 | 57.1 | 77.2 |
Top stores
Top five Fashion online stores in Singapore by net sales 2023
With sales in the Singapore Fashion market, shein.com generated a revenue of US$82.5 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Singapore is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.
eCommerce net sales generated in the Fashion market in Singapore in 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
See further stores
Shop Software Solutions
Top 5 used shop software solutions in the Singapore Fashion market
In the Singapore Fashion eCommerce market in 2023, Shopify is the leading shop software solution, used by over 36.6% of online retailers. Salesforce Commerce Cloud comes in second, but with a much lower usage rate of 9.9%. Meanwhile, WooCommerce, Shopcada, and Magento are used by a relatively small number of online retailers.
Top 5 used shop software solutions in the Singapore Fashion market
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Market definition
Definition of the Fashion market
Market definition: Fashion The category Fashion encompasses the commercial (B2C) sale of apparel (e.g. jackets, t-shirts, joggers, underwear), footwear (e.g. sneakers, boots, sandals), bags (e.g. handbags, backpacks, suitcases), and accessories (e.g. hats, sunglasses, jewelry, watches) via digital channels. Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits), eye care (e.g. glasses and sunglasses with prescriptions) or beauty care (e.g. make-up, fragrances) are not included in this segment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Apparel (e.g. jackets, t-shirts, joggers, underwear)
- Footwear (e.g. sneakers, boots, sandals)
- Bags (e.g. handbags, backpacks, suitcases)
- Accessories (e.g. hats, sunglasses, jewelry, watches)
Out-of-scope
- Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits)
- Eye care (e.g. glasses and sunglasses with prescriptions)
- Beauty care (e.g. make-up, fragrances)
Select sub-category