Additional Information

Overview of the Retail Sector

Retail Sector in Singapore

Retail is a sector that shapes the character of Singapore, underpins growth of the tourism industry and contributes to the enhanced quality of life for Singaporeans to live, work and play in.

22,000
retail establishments
3% of Singapore’s total workforce
retail establishments
Contributed 1.4% to
Singapore’s GDP

Key Sub-sectors in Retail

Consumer
Electronics
Fashion &
Sporting Goods
Jewellery &
Timepieces
Department
Stores
Furniture &
Household
Products
Supermarkets
& Convenience
Stores

Emerging Trends in the Retail Sector

The sector faces several near term challenges – intensified competition and a need to undergo structural shifts from brick-and-mortar outlets to e-commerce. The sector has to evolve and adapt to major trends like the omni-channel approach to tap new growth opportunities and remain competitive internationally.

Growing
E-Commerce Market

Services such as 24-hour online shopping and international delivery reach out to a wide segment of consumers

Growing Consumer
Expectations

Consumers are seeking new experiences, personalised shopping and seamless transitions across channels

Digitalisation
of Retail

New technologies increase productivity and enhance business operations and processes

Overseas Market
Opportunities

New markets and opportunities are opening for Singapore retailers as consumers are now well-travelled and are keenly aware of global trends