Retail Industry in Singapore - Major trends, Growth and Opportunities (2020 - 2025)

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Singapore is among the only few countries where 100% of population lives in urban cities. The retail industry in Singapore came down in 2014 and 1st quarter of 2015 but will continues to maintain its momentum, driven by economic and social developments and population growth. Key factors in the growth of retail industry are robust economic growth, rising population, changing consumer trends, rising purchasing power and penetration of international players. Retail industry in the Singapore region will expand at a CAGR of XX.XX% over 2014-20.

Number of establishments were increased to 21,534 in 2013 from 20,152 in 2008. Retail trade industry in Singapore accounts to $42.5 billion in 2013, retailers of personal goods is the largest contributor accounting to 31.8% of all retail trades in 2013, followed by General Merchandise accounting to 28%. Operating Expenditure has also gone up by 1% increased to $40.6 billion in 2013.

Singapore retail sector is driven by rising disposable income and consumer confidence. Singapore is a big trade market in Asia, having less population and high per capita income helps in the growth of retail sector.

What the report offers

The study elucidates the situation of Singapore and predicts the growth of its Retail Industry. Report talks about growth, market trends, progress, challenges, opportunities, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Retail sector of Singapore. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by various types’ Retail available in the country.

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