The mobile retail revenue in Singapore exhibited a robust growth period from 2013 to 2023, with significant increases noted in 2020 and 2021. In 2023, the revenue stood at 35 pounds sterling. The most notable variations were seen in 2020 with a 5% increase and in 2022 with a -4.76% decrease. Over the last five years, the Compound Annual Growth Rate (CAGR) was 0.58%. Future revenue is projected to increase at a stable, moderate rate, with a forecasted five-year CAGR of 0.37% up to 2028.
Future trends to watch for include:
- Technological advancements and increased mobile usage
- Shifts in consumer behavior towards online shopping
- Impact of global economic conditions on consumer spending
- Regulatory changes affecting the retail industry
