E-commerce market to hit $40.5b in 2026 amidst digital-savvy shopper base

Growth is driven by festivals and livestreaming.

The e-commerce market is projected to grow 17.7% to $40.5b in 2026, driven by strong consumer appetite for online shopping, advanced digital infrastructure, and a large population of digitally proficient consumers, according to a GlobalData report.

The market grew an estimated 18.8% to $34.4b in 2025 and is forecast to reach $63.4b by 2030, supported by shopping festivals—including Black Friday, Cyber Monday, and Singles’ Day—platform sales events, and partner merchant discounts.

Livestream shopping is emerging as a key sales channel through TikTok, Shopee Live, Lazada Live, and Facebook Live, the report noted.

DBS ran live selling workshops for small and medium enterprises clients in April 2025, whilst a partnership with TikTok and Boom Media trained over 70 participants in content creation and presentation.

Delivery infrastructure continues to expand, with RedMart Now launching in February 2026 to provide 30-minute delivery in select areas. Grab and foodpanda also serve the market.

International retailers are entering Singapore’s market as Myntra launched its online platform in May 2025, offering 35,000 product styles targeting the city-state's Indian diaspora of 650,000.

Amazon Singapore opened its Everyday Essentials store the same month, featuring 100,000 products from local and international brands.

Kartik Challa, senior banking and payments analyst at GlobalData, said the market depends on a strong digital ecosystem for transactions and logistics, and noted that changes in consumer behaviour and digital tools continue to drive growth.

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