Singapore: Southeast Asia's Largest Share of Local E-commerce

Singapore has the highest share of local e-commerce in Southeast Asia. This finding is based on research conducted by iPrice in the first quarter of 2022.

Of the six countries analyzed by the iPrice team, Singapore ranked first with a local e-commerce share reaching 98% of all e-commerce in the country.

According to iPrice, this result is unsurprising given that Singapore has two unicorn companies, Shopee and Lazada, which currently lead the e-commerce market share in Southeast Asia.

Vietnam ranked second with a local e-commerce share of 60%. Not far behind Vietnam, Indonesia was in third place with a 54% local e-commerce share.

Malaysia followed in fifth place with a 25% local e-commerce share, followed by Thailand with 15% and the Philippines with only 1%.

iPrice noted that although the share of international e-commerce is more dominant in Malaysia, Thailand, and the Philippines, the number of local e-commerce businesses in these three countries is actually greater than the number of international e-commerce businesses.

However, the smaller scale of local e-commerce in these three countries leads to a higher demand for international options.

iPrice conducted this research using website visitor data from SimilarWeb for each e-commerce site. This data indicates the global traffic in Q1 2022 from both local and international e-commerce businesses in each country.