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Singapore Retail Report Q1 2016

  • October 2015
  • -
  • Business Monitor International
  • -
  • 42305 pages

Includes 3 FREE quarterly updates

BMI View: Despite short-term headwinds, we believe that strong economic fundamentals will continue todrive growth in Singapore's retail market. We forecast headline household spending to increase by acompound annual growth rate (CAGR) of 4.9% over the next five years, reaching USD144.9bn in 2019.Consumer spending in will remain largely concentrated on four categories - housing and utilities, personaland insurance, recreation and culture as well as transport - which together are forecast to represent 62.3%of the total household expenditure in 2019.

Rising incomes, highly developed financial services sector andcost-efficient public services will continue to fuel spending on luxury and non-essential goods and services.Singapore is home to some of the most modern retail formats on the globe, with a large number of shoppingmall complexes relative to country's rather small population size. Many shopping malls are adjoined to thesubway (MRT) stations throughout the city. Orchard Road is the key shopping area for retailers of thetraditional formats with a plethora of shopping malls and high-end shops and state of the art infrastructureand complimentary services. It is also the main shopping district, particularly for tourists, as shoppers lookto take advantage of the low rate of sales tax in the country. Despite continued dominance of traditionalretailers, e-commerce is starting to lift-off despite the slow initial growth.

Online sales have a lot ofpotential to expand as smart-phone penetration rates in Singapore are exceptionally high. That said,considering small size of the city-state, the physical stores are rarely out of reach for consumers.

Table Of Contents

Singapore Retail Report Q1 2016
BMI Industry View 7
SWOT 9
Retail SWOT 9
Political 11
Economic 12
Industry Forecast 13
Headline Retail Forecast 13
Table: Total Household Spending (Singapore 2012-2019) 14
Table: Retail Sector Spending, % Of Total (Singapore 2012-2019) 15
Table: Headline Retail Sector Spending (Singapore 2012-2019) 16
Table: Retail Sector Spending, % of GDP (Singapore 2012-2019) 18
Retail Sector Forecast 19
Food, Drink and Tobacco 19
Table: Food, Drink and Tobacco Spending (Singapore 2012-2019) 20
Clothing And Footwear 21
Table: Clothing and Footwear Spending (Singapore 2012-2019) 21
Household Goods 22
Table: Household Goods Spending (Singapore 2012-2019) 23
Personal Care 23
Table: Personal Care Spending (Singapore 2012-2019) 24
Household Numbers And Income Forecast 25
Table: Household Income Data (Singapore 2012-2019) 25
Table: Labour Market Data (Singapore 2012-2019) 28
Demographic Forecast 29
Table: Total Population (Singapore 2012-2019) 30
Table: Population: Babies (Singapore 2012-2019) 30
Table: Population: Young Children (Singapore 2012-2019) 31
Table: Population: Children (Singapore 2012-2019) 31
Table: Population: Young Teens and Older Children (Singapore 2012-2019) 31
Table: Population: Young People (Singapore 2012-2019) 32
Table: Population: Older Teenagers (Singapore 2012-2019) 32
Table: Population: 21yrs + (Singapore 2012-2019) 32
Table: Population: Young Adults (Singapore 2012-2019) 33
Table: Population: Middle Aged (Singapore 2012-2019) 33
Table: Population: Urban (Singapore 2012-2019) 33
Macroeconomic Forecast 34
Economic Analysis 34
Industry Risk Reward Ratings 38
Asia Risk/Reward Index 38
Table: Asia Pacific Retail Risk/Reward Index, Q116 38
Singapore Risk/Reward Index 40
Rewards 40
Risks 41
Market Overview 42
Competitive Landscape 45
Department Store Groups 45
Mass Grocery Retail 46
Fashion 46
Consumer Electronics 47
Glossary 49
Methodology 57
Industry Forecast Methodology 57
Sources 60
Risk/Reward Index Methodology 60
Table: Retail Risk/Reward Index Indicators 61
Table: Weighting Of Indicators 63

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