Live commerce in Singapore could generate up to USD 1.3 billion (SGD 1.67 billion) in sales this year, according to DBS.
This would account for about 40% of the local social commerce market, which is expected to reach USD 3.2 billion (SGD 4.11 billion) in 2025.
The bank said social commerce is growing at a compound annual rate of 16% and could double to USD 6.6 billion (SGD 8.47 billion) by 2030, with live commerce making up over a third.
Conversion rates for livestream selling can be up to 10 times higher than traditional e-commerce, driven by faster purchase decisions and real-time interaction.
DBS, the first bank in Singapore to help businesses build live commerce capabilities, has rolled out workshops and live-selling sessions for small and medium-sized enterprises (SMEs) and heartland merchants.
In April, it worked with TikTok and Boom Media to run two social commerce workshops and three live selling sessions for over 70 participants.
Many later joined “SG60: Transforming Businesses for the Future,” a 60-hour live-selling event from 1 to 3 August with TikTok and Samsung Electronics Singapore.
Featuring 60 local businesses, it became the longest live-selling broadcast in Southeast Asia, drawing nearly 15 million TikTok impressions.
About 87% of merchants were first-time live sellers, including five DBS Foundation grantees.
DBS noted that generative AI could further accelerate adoption, with tools like real-time translation and AI hosts already being tested in China.
Sachin Mittal, Head of Technology Research, DBS, said,
“Live commerce is no longer experimental. It is becoming part of the everyday online shopping experience, especially for mobile-first consumers. While still at an early stage in Singapore, the potential is significant.
What makes live selling so powerful is its ability to close the gap between discovery and purchase almost instantly.”
Chen Ze Ling, Group Head of Corporate and SME Banking, DBS, said,
“This is part of our broader effort to help SMEs transform and stay competitive. Live commerce offers a simple, low-cost way to reach not just local customers, but regional ones too – without needing to set up a physical presence overseas.
By helping more SMEs tap into this evolving space, we are positioning local companies to seize new growth opportunities, build digital capabilities and connect with tomorrow’s customers in new and impactful ways.”
Featured image: Edited by Fintech News Singapore, based on image by Victor via Unsplash
