Live commerce, also known as livestream shopping, is emerging as a significant sales channel in Singapore, with the market projected to generate up to US$1.3 billion in sales this year, according to new research by DBS. This represents about 40% of the local social commerce market, which is forecast to hit US$3.2 billion in 2025.

In a first among banks in the city-state, DBS is helping local merchants and small businesses capture a slice of this opportunity by offering workshops and live-selling sessions to enable them to build live commerce capabilities.

Research by DBS finds that an ongoing shift in buying habits – the result of people spending more time on social media than browsing traditional websites – is driving a growth in social commerce at a compound annual growth rate ( CAGR ) of 16%. By 2030, social commerce sales are forecast to double to US$6.6 billion, of which live commerce is expected to account for more than a third.

Compared to traditional e-commerce, live selling offers consumers a more engaging and entertaining experience by enabling interaction with merchants in real-time with the convenience of shopping on-the-go via their smartphones.

Sellers also benefit from demonstrating their products to large audiences directly, answering questions and offering real-time promotions.

Viewers are more likely to buy a product, with research showing that conversion rates for livestream selling are up to 10 times higher than traditional e-commerce.

This is so because shoppers can discover, interact with, and buy a product all within one platform, without having to leave an app, or visit a separate website. As such, a sales transaction is more likely to be done faster.

Seeing a real person use and review a product live builds credibility more effectively than static ads or posts.

GenAI to boost adoption

Looking ahead, generative artificial intelligence ( GenAI ) is expected to further boost the adoption of live commerce. For example, real-time translation tools can help sellers overcome language barriers and reach audiences in a wider range of markets, while Gen AI hosts could run round-the-clock livestreams. Such applications are already being piloted in markets like China.

To help local businesses, especially heartland merchants  – family-run shops and small businesses nestled within residential neighbourhoods – capitalize on this growing trend and connect with a wider online customer base, DBS has embarked on efforts to help companies build their live selling capabilities.

In April, the bank introduced live selling workshops for its small and medium-sized ( SME ) clients. It also worked with TikTok and Boom Media to run two social commerce workshops and three live selling sessions.

Several of these companies recently put their new skills into practice at the “SG60: Transforming Businesses for the Future” event, a 60-hour live-selling initiative in celebration of Singapore’s 60th birthday.

In partnership with TikTok and Samsung Electronics Singapore, the session ran for 60 consecutive hours from August 1 to 3 and featured 60 local businesses – becoming the longest live-selling stream in Southeast Asia. The live-selling marathon generated significant reach, capturing nearly 15 million impressions on TikTok, according to DBS.

“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,” says Chen Ze Ling, group head of corporate and SME banking, at DBS. “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.”