This article is part of a Spotlight series on how brands can further leverage the social commerce opportunity in Southeast Asia. Read more.
Singapore recorded overall e-commerce revenue of US$2.6 billion in 2020 and the revenue is expected to show an annual growth rate of 10% (CAGR 2021-2025), resulting in a projected market volume of almost US$4.7 billion by 2025.
One of the growing avenues of e-commerce is social commerce. Singapore had a high social network user penetration of around 86% in 2020, projected to reach almost 93% in 2025.
Essence recently surveyed consumers...