DBS Powers Singapore’s Live Commerce Boom
From heartland shops to digital stages – livestream selling is transforming how Singaporeans shop, and DBS is leading the charge.
Live commerce – livestream shopping – is fast becoming a major force in Singapore’s retail scene.
According to new DBS research, the market could generate up to $1.3 billion (S$ 1.67 billion) in sales this year, accounting for 40 percent of the local social commerce market. By 2025, that market is projected to hit $3.2 billion (S$ 4.11 billion).
DBS First Among Banks to Back Livestream Sellers
In a first for Singapore’s banking sector, DBS is actively helping small businesses and heartland merchants harness live commerce. Through workshops and live-selling sessions, the bank is enabling SMEs to build capabilities in this fast-evolving retail channel.
DBS’ research shows that shifting buying habits – with consumers spending more time on social media than browsing websites – are fuelling social commerce’s 16 percent compound annual growth rate. By 2030, the sector is set to double to $6.6 billion (S$ 8.47 billion), with live commerce making up more than a third of sales.
Why Livestream Shopping Converts Better
Compared to traditional e-commerce, live selling offers an interactive, entertaining experience. Viewers can watch demonstrations, ask questions, and snap up special offers – all without leaving their app. The result? Conversion rates up to 10 times higher than conventional online shopping, boosted by instant decision-making and greater trust in real-time product reviews.
Generative AI is set to accelerate adoption. Real-time translation tools could help sellers tap overseas markets, while AI-powered hosts might run 24/7 livestreams. Such innovations are already being piloted in China and could soon reach Singapore.
DBS Takes Live Selling to the Heartlands
In April, DBS rolled out live selling workshops as part of its Heartland Merchant Banking Package. Partnering with TikTok and Boom Media, the bank trained more than 70 SMEs in content creation, presentation, and audience engagement.
Many debuted their new skills during the SG60: Transforming Businesses for the Future event – a 60-hour livestream celebrating Singapore’s 60th birthday.
Record-Breaking Livestream Event
Running non-stop from 1-3 August, the event featured 60 local businesses and became Southeast Asia’s longest live-selling stream. Nearly 15 million impressions were generated on TikTok, with 87 percent of merchants joining as first-time live sellers – five of them DBS Foundation grantees.
Chen Ze Ling, DBS Group Head of Corporate and SME Banking, said: «Live commerce offers a simple, low-cost way to reach not just local customers, but regional ones too – without a physical presence overseas. We are helping SMEs tap into this evolving space to seize growth opportunities and connect with tomorrow’s customers.»
From First-Timers to Future Pros
For Selenight Co., the SG60 livestream was a turning point. Co-founder Heng Juit Wen said: «It gave us the confidence to try live selling. We saw a spike in conversions and built genuine connections with customers. We’re already planning our next livestream with even more engagement.»
As consumer behaviour shifts and digital platforms evolve, DBS is committed to helping local businesses innovate. By empowering SMEs to explore live commerce, the bank is ensuring they can adapt, compete, and thrive in the retail landscape of tomorrow.
