Summary

Retail in Singapore continued to gain growth momentum in 2022 following its recovery from the pandemic in value sales terms the previous year. The removal of social restrictions on crowd sizes and nightlife resulted in consumers venturing outside of their homes at levels similar to pre-pandemic years. This helped drive the rebound noted by retail offline as consumers returned to find revamped and refreshed store concepts due to investments made during the pandemic to provide safe, engaging and e...

Euromonitor International's Retail in Singapore report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.

Product coverage: Retail E-Commerce, Retail Offline.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
* Get a detailed picture of the Retail market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.

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Table of Contents

Retail in Singapore
Euromonitor International
April 2023

List Of Contents And Tables

RETAIL IN SINGAPORE
EXECUTIVE SUMMARY
Retail in 2022: The big picture
Resumption of social lifestyles and international travel drive demand for certain products
Technology-enabled shopping experiences prevalent across omnichannel model
What next for retail?
OPERATING ENVIRONMENT
Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2022
Seasonality
Lunar New Year
Hari Raya Aidilfitri (or Hari Raya Puasa)
Christmas and New Year
MARKET DATA
Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2017-2022
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2017-2022
Table 3 Sales in Retail Offline by Channel: Value 2017-2022
Table 4 Sales in Retail Offline by Channel: % Value Growth 2017-2022
Table 5 Retail Offline Outlets by Channel: Units 2017-2022
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2017-2022
Table 7 Sales in Retail E-Commerce by Product: Value 2017-2022
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2017-2022
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 11 Sales in Grocery Retailers by Channel: Value 2017-2022
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2017-2022
Table 13 Grocery Retailers Outlets by Channel: Units 2017-2022
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2017-2022
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2017-2022
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2017-2022
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
Table 21 Retail GBO Company Shares: % Value 2018-2022
Table 22 Retail GBN Brand Shares: % Value 2019-2022
Table 23 Retail Offline GBO Company Shares: % Value 2018-2022
Table 24 Retail Offline GBN Brand Shares: % Value 2019-2022
Table 25 Retail Offline LBN Brand Shares: Outlets 2019-2022
Table 26 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 28 Grocery Retailers GBO Company Shares: % Value 2018-2022
Table 29 Grocery Retailers GBN Brand Shares: % Value 2019-2022
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2019-2022
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2018-2022
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2019-2022
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2019-2022
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2022-2027
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2022-2027
Table 36 Forecast Sales in Retail Offline by Channel: Value 2022-2027
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2022-2027
Table 38 Forecast Retail Offline Outlets by Channel: Units 2022-2027
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2022-2027
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2022-2027
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2022-2027
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2022-2027
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2022-2027
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2022-2027
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2022-2027
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2022-2027
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2022-2027
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027
DISCLAIMER
SOURCES
Summary 2 Research Sources
CONVENIENCE RETAILERS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Strong sales for convenience stores with resumption of out-of-home activity
Growth of forecourt retailers moderated by rising petrol prices, prompting decline in private car usage
7-Eleven unveils new 7Cafe concept in Singapore at Jewel Changi Airport
PROSPECTS AND OPPORTUNITIES
Relevance of forecourt retailers challenged as Singapore shifts towards a green and public/shared-mobility future
Convenience retailers to focus on innovations relating to foodservice offerings as a means of brand differentiation
Convenience retailers partner quick commerce platforms to offer consumers greater flexibility
CHANNEL DATA
Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 56 Sales in Convenience Retailers by Channel: Value 2017-2022
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2017-2022
Table 58 Convenience Retailers GBO Company Shares: % Value 2018-2022
Table 59 Convenience Retailers GBN Brand Shares: % Value 2019-2022
Table 60 Convenience Retailers LBN Brand Shares: Outlets 2019-2022
Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2022-2027
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2022-2027
HYPERMARKETS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Hypermarkets engage in experiential retail to attract consumers to stores
Yuu loyalty programme launched with DFI Retail Group a key partner
PROSPECTS AND OPPORTUNITIES
Land constraints and value-based offerings a challenge to hypermarkets in Singapore
Brands close unprofitable concepts, with the need to strike a balance between novelty and value to consumers
Supermarkets considered a close alternative to hypermarkets
CHANNEL DATA
Table 65 Hypermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 66 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 67 Hypermarkets GBO Company Shares: % Value 2018-2022
Table 68 Hypermarkets GBN Brand Shares: % Value 2019-2022
Table 69 Hypermarkets LBN Brand Shares: Outlets 2019-2022
Table 70 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 71 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
SUPERMARKETS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Normalisation of grocery spending in 2022 due to relaxation of COVID-19 measures
Selected Cold Storage outlets rebranded as CS Fresh by DFI Retail Group
Private label offerings prove popular in inflationary period
PROSPECTS AND OPPORTUNITIES
Grocery e-commerce expected to gain momentum over the forecast period
Supermarket growth depends on new housing/population centres
Supermarkets leverage technology to provide seamless omnichannel shopping experience and consumer engagement
CHANNEL DATA
Table 72 Supermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 73 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 74 Supermarkets GBO Company Shares: % Value 2018-2022
Table 75 Supermarkets GBN Brand Shares: % Value 2019-2022
Table 76 Supermarkets LBN Brand Shares: Outlets 2019-2022
Table 77 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 78 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
SMALL LOCAL GROCERS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Rebound despite growing preference for modern grocery formats
Supply chain challenges lead to higher prices and product shortages at small local grocers
PROSPECTS AND OPPORTUNITIES
Expansion likely to be driven by opening of new wet markets in non-mature districts
Pilot concept offers point of differentiation for local consumers of small local grocers
CHANNEL DATA
Table 79 Small Local Grocers: Value Sales, Outlets and Selling Space 2017-2022
Table 80 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 81 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 82 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
APPAREL AND FOOTWEAR SPECIALISTS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Resumption of social occasions and international travel increases demand for apparel and footwear
Brands leverage digital tools to augment in-store shopping experience
“New normal” lifestyles see increasing demand for certain types of apparel
PROSPECTS AND OPPORTUNITIES
Recovery of inbound tourism spending expected to drive channel sales in 2023
Renewed focus on sustainability and re-commerce initiatives due to increasing consciousness of excessive consumption
Direct-to-consumer and digital native brands expected to challenge strongly for share over forecast period
CHANNEL DATA
Table 83 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 84 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 85 Apparel and Footwear Specialists GBO Company Shares: % Value 2018-2022
Table 86 Apparel and Footwear Specialists GBN Brand Shares: % Value 2019-2022
Table 87 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2019-2022
Table 88 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 89 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
APPLIANCES AND ELECTRONICS SPECIALISTS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Pandemic-induced demand for appliances and electronics subsides
Consumers rush to make big-ticket purchases before GST hike in 2023
Experiential retail a key theme as channel seeks to retain in-store crowds in era of online shopping
PROSPECTS AND OPPORTUNITIES
E-commerce sales expected to gain further share due to wide variety of choice, competitive pricing and discounts
Membership campaigns from appliances and electronics specialists seek to encourage consumer loyalty and return spending
Xiaomi launches new store at Jurong Point shopping centre
CHANNEL DATA
Table 90 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 91 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 92 Appliances and Electronics Specialists GBO Company Shares: % Value 2018-2022
Table 93 Appliances and Electronics Specialists GBN Brand Shares: % Value 2019-2022
Table 94 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2019-2022
Table 95 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 96 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
HEALTH AND BEAUTY SPECIALISTS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Strong growth in 2022 due to lifting of social restrictions and international travel
Optical goods stores leverage brand collaborations to offer differentiation and drive sales
Sustainability and clean beauty play more prominent roles for beauty products
PROSPECTS AND OPPORTUNITIES
Beauty specialists faces challenge from e-commerce with marketplaces offering accessibility to region-specific beauty products
Heightened health and wellness awareness to drive demand for immunity-boosting and holistic wellbeing products over forecast period
Optical goods stores to leverage digital tools in attempt to drive consumer engagement and sales
CHANNEL DATA
Table 97 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 98 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 99 Sales in Health and Beauty Specialists by Channel: Value 2017-2022
Table 100 Sales in Health and Beauty Specialists by Channel: % Value Growth 2017-2022
Table 101 Health and Beauty Specialists GBO Company Shares: % Value 2018-2022
Table 102 Health and Beauty Specialists GBN Brand Shares: % Value 2019-2022
Table 103 Health and Beauty Specialists LBN Brand Shares: Outlets 2019-2022
Table 104 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 105 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 106 Forecast Sales in Health and Beauty Specialists by Channel: Value 2022-2027
Table 107 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2022-2027
HOME PRODUCTS SPECIALISTS IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Pandemic-induced demand for homewares and home furnishings slows in 2022
IKEA collaborates with Carousell to introduce re-commerce for its products
PROSPECTS AND OPPORTUNITIES
Completion of BTO flats likely to drive channel sales as new homeowners furnish and complete their homes
Courts Nojima new flagship store in Orchard Road draws crowds to become showpiece of experiential retail concept
CHANNEL DATA
Table 108 Home Products Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 109 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 110 Sales in Home Products Specialists by Channel: Value 2017-2022
Table 111 Sales in Home Products Specialists by Channel: % Value Growth 2017-2022
Table 112 Home Products Specialists GBO Company Shares: % Value 2018-2022
Table 113 Home Products Specialists GBN Brand Shares: % Value 2019-2022
Table 114 Home Products Specialists LBN Brand Shares: Outlets 2019-2022
Table 115 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 116 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 117 Forecast Sales in Home Products Specialists by Channel: Value 2022-2027
Table 118 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2022-2027
GENERAL MERCHANDISE STORES IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Department stores faces increasing pressure in Singapore with numerous store closures over review period
Popular Japanese chain Don Don Donki continues to aggressively expand
Daiso raises prices due to higher cost of living, and launches premium sub-brand
PROSPECTS AND OPPORTUNITIES
Robinsons relaunches as e-commerce pure play retailer
Department stores to depend on international travel and inbound tourism
CHANNEL DATA
Table 141 General Merchandise Stores: Value Sales, Outlets and Selling Space 2017-2022
Table 142 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 143 Sales in General Merchandise Stores by Channel: Value 2017-2022
Table 144 Sales in General Merchandise Stores by Channel: % Value Growth 2017-2022
Table 145 General Merchandise Stores GBO Company Shares: % Value 2018-2022
Table 146 General Merchandise Stores GBN Brand Shares: % Value 2019-2022
Table 147 General Merchandise Stores LBN Brand Shares: Outlets 2019-2022
Table 148 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 149 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 150 Forecast Sales in General Merchandise Stores by Channel: Value 2022-2027
Table 151 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2022-2027
DIRECT SELLING IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Focus on personal health and wellness drives demand for consumer health direct selling
Easing of restrictions and resumption of events and social activities make it easier to sell to new parties
PROSPECTS AND OPPORTUNITIES
Pandemic increases desirability of flexible working and direct selling as a source of income
Some direct selling categories lose ground due to fierce competition from e-commerce and weak value proposition
CHANNEL DATA
Table 119 Direct Selling by Product: Value 2017-2022
Table 120 Direct Selling by Product: % Value Growth 2017-2022
Table 121 Direct Selling GBO Company Shares: % Value 2018-2022
Table 122 Direct Selling GBN Brand Shares: % Value 2019-2022
Table 123 Direct Selling Forecasts by Product: Value 2022-2027
Table 124 Direct Selling Forecasts by Product: % Value Growth 2022-2027
VENDING IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Vending’s recovery driven by greater mobility and resumption of pre-pandemic lifestyles
iJooz vending machine a hit in Singapore due to value of product offering and easily accessible machines
PROSPECTS AND OPPORTUNITIES
Vending moves beyond traditional scope of food and drink towards more unconventional products
Focus on automation and productivity to drive vending’s growth in mid to long term
CHANNEL DATA
Table 125 Vending by Product: Value 2017-2022
Table 126 Vending by Product: % Value Growth 2017-2022
Table 127 Vending GBO Company Shares: % Value 2018-2022
Table 128 Vending GBN Brand Shares: % Value 2019-2022
Table 129 Vending Forecasts by Product: Value 2022-2027
Table 130 Vending Forecasts by Product: % Value Growth 2022-2027
RETAIL E-COMMERCE IN SINGAPORE
KEY DATA FINDINGS
2022 DEVELOPMENTS
Retail e-commerce growth normalises following surge in 2020 and 2021
Shopee and Lazada remain leading online marketplaces in Singapore
Livestreaming and gamification key aspects of retailers’ plans to boost consumer loyalty and engagement
PROSPECTS AND OPPORTUNITIES
Retailers increasingly choose direct-to-consumer strategy to foster consumer relationships and build brand loyalty
Brands utilise digital tools to augment and supplement online shopping experience
Year-end shopping festivals a key driver of retail e-commerce sales in Singapore
CHANNEL DATA
Table 131 Retail E-Commerce by Channel: Value 2017-2022
Table 132 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 133 Retail E-Commerce by Product: Value 2017-2022
Table 134 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 135 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 136 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 137 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 138 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 139 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 140 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027