Singapore Retail Report

 Published On: May, 2016 |    No of Pages: 60 |  Published By: BMI Retail | Format: PDF
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BMI View: Exposure to international financial and product markets will cause a slowdown in Singapore's economy. Worsened consumer sentiment will negatively affect retail sales and push smaller, niche retailers out of the market. However, the shift towards e-commerce will prevail as firms rush to offer not only topnotch online shopping services but also new ways of combining physical and online retail environments. The trend will likely provide the market with more resilience in the medium term.
Key Views & Developments:
■ The retail sector is contracting as sales dropped 3.2% y-o-y in February 2016 according to Singapore Department of Statistics. Groceries, communications and household goods sub-sectors posted the deepest double-digit falls.
■ Deteriorated consumer sentiment and adverse economic conditions prompted a number of retailers to scale down their operations in Singapore or leave the market altogether. The list includes New Look, Celio and iwannagohome, all of which are closing down, and Al-Futtaim and CB2 shrinking their operations.

BMI Industry View . 7
SWOT .. 9
Retail SWOT . 9
Industry Forecast  11
Headline Retail Forecast .. 11
Table: Total Household Spending (Singapore 2013-2020)      . . . 13
Table: Retail Sector Spending, % Of Total (Singapore 2013-2020)    . . . . . 14
Table: Headline Retail Sector Spending (Singapore 2013-2020)     . . 15
Table: Retail Sector Spending, % of GDP (Singapore 2013-2020)     17
Retail Sector Forecast ...... 18
Food, Drink And Tobacco  19
Table: Food, Drink & Tobacco Spending (Singapore 2013-2020)     . 20
Clothing And Footwear ... 20
Table: Clothing & Footwear Spending (Singapore 2013-2020)     . . . 21
Household Goods . 21
Table: Household Goods Spending (Singapore 2013-2020)      . 22
Personal Care ..... 23
Table: Personal Care Spending (Singapore 2013-2020)      . . . . . 23
Household Numbers And Income Forecast ......... 25
Table: Household Income Data (Singapore 2013-2020)      . . . . . 26
Table: Labour Market Data (Singapore 2013-2020)       . . . 29
Demographic Forecast ..... 30
Table: Total Population (Singapore 2013-2020)        . 32
Table: Population: Babies (Singapore 2013-2020)       . . . . 32
Table: Population: Young Children (Singapore 2013-2020)      . 32
Table: Population: Children (Singapore 2013-2020)       . . 33
Table: Population: Young Teens and Older Children (Singapore 2013-2020)   33
Table: Population: Young People (Singapore 2013-2020)      . . . 33
Table: Population: Older Teenagers (Singapore 2013-2020)      34
Table: Population: 21yrs + (Singapore 2013-2020)       . . . 34
Table: Population: Young Adults (Singapore 2013-2020)      . . . 34
Table: Population: Middle Aged (Singapore 2013-2020)      . . . . 35
Table: Population: Urban (Singapore 2013-2020)       . . . . . 35
Industry Risk Reward Ratings  36
Asia Pacific Risk/Reward Index .... 36
Table: Asia Pacific Retail Risk/Reward Index, Q316       . . . 36
Singapore Risk/Reward Index ...... 37
Rewards ... 37
Risks ........ 38
Market Overview . 39
Competitive Landscape  43
Clothing & Footwear ...... 43
Table: Selected Clothing & Footwear Companies       . . . . . 43
Household Goods . 44
Table: Selected Household Goods Companies        . . . 44
Electronics ......... 44
Table: Selected Electronics Retail Companies        . . . 44
Department Stores  45
Table: Selected Department Stores Companies        . . 45
E-commerce ........ 45
Table: Selected E-commerce Companies         . . . 45
Pharmacies/ Drug Stores . 46
Table: Selected Pharmacy Companies46
Glossary ..... 47
Methodology ........ 54
Industry Forecast Methodology .. 54
Sources .... 57
Risk/Reward Index Methodology . 57
Table: Retail Risk/Reward Index Indicators         58
Table: Weighting Of Indicators . 60

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