The Retail In Singapore Market report segments the industry into By Product (Food And Beverage, Personal And Household Care, Apparel, Footwear, And Accessories, Furniture, Toys, And Hobby, Electronic And Household Appliances, Other Products) and By Distribution Channel (Hypermarkets, Supermarkets, And Convenience Stores, Specialty Stores, Department Stores, E-Commerce, Other Distribution Channels).

The retail market in Singapore reached USD 36.25 Billion in 2024. The market is expected to grow at a CAGR of 3.70% between 2025 and 2034, reaching USD 52.13 Billion by 2034.

The Singapore retail market, valued at approximately $XX million in 2025, exhibits robust growth potential, projected to expand at a CAGR exceeding 3.00% from 2025 to 2033. This growth is fueled by several key drivers. Firstly, Singapore's thriving economy and rising disposable incomes contribute significantly to increased consumer spending. Secondly, the burgeoning e-commerce sector, driven by increasing internet penetration and smartphone adoption, offers significant opportunities for retailers to expand their reach and customer base. Furthermore, the government's initiatives to promote innovation and technological advancements within the retail landscape further encourage growth. However, the market faces challenges such as escalating rental costs, intense competition, and shifting consumer preferences towards sustainable and ethical products. Segmentation analysis reveals that the food and beverage sector holds a considerable market share, followed by personal and household care, with e-commerce emerging as a dominant distribution channel. Key players like Japan Foods Holding Ltd, Sheng Siong Group Ltd, and Dairy Farm International Holdings are strategically positioning themselves to capitalize on these trends. The segmentation by product category reveals diverse growth trajectories. While the food and beverage segment benefits from consistent demand, the apparel, footwear, and accessories sector experiences fluctuations based on fashion trends and consumer sentiment. The furniture, toys, and hobby segments are showing promising growth linked to evolving lifestyle preferences. The electronic and household appliance sector's performance is tied to technological innovation and economic conditions. Within distribution channels, the dominance of e-commerce is undeniable, though traditional channels like supermarkets and hypermarkets continue to play a vital role, particularly for grocery and daily essentials. The success of individual companies will hinge on their ability to adapt to these dynamic market forces, embracing digital technologies, focusing on customer experience, and offering innovative products and services. Recent developments include: In April 2021, Singapore homegrown retailer Naiise has shut down after struggling to survive through the pandemic, with its owner Dennis Tay filing for personal bankruptcy.. Notable trends are: Upgrading Technology is Helping the Market to Record More Revenues.

The Travel Retail Industry in Singapore is Segmented by Product Type (Beauty and Personal Care, Wines and Spirits, Tobacco, Edibles, Fashion Accessories, Hard Luxury, and Other Types) and by Distribution Channel (airports, Airlines, Ferries, and Other Distribution Channels). The Report Offers Market Size and Forecasts for the Singapore Travel Retail Market in Terms of Value (USD) for all the Above Segments.

Retail Sales in Singapore increased 2.30 percent in June of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Singapore Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, fashion e-commerce made up the largest share of the e-commerce market in Singapore at **** percent. This was followed by appliances and electronics, which made up **** percent.

In 2022, the total retail sales value in Singapore was just short of ***** billion Singapore dollars. This was an increase compared to the previous year, indicating an uptick in retail sales after the first year of the COVID-19 pandemic.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_65e4d47c3616d251f9a84ec1ad28f43c/view

Singapore Retail Market size was valued at USD 35.8 Billion in 2024 and is projected to reach USD 60.6 Billion by 2032, growing at a CAGR of 6.8% from 2026 to 2032.

Key Market Drivers Digital Transformation and E-commerce Growth: The rapid digitalization of Singapore's retail sector is a significant driver of market growth. With high internet penetration and a tech-savvy population, e-commerce platforms have become central to retail strategies. According to the Singapore Department of Statistics, e-commerce sales in Singapore grew by 32.4% between 2020 and 2022, reaching SGD 6.7 billion in total online retail sales. The Ministry of Trade and Industry confirmed that digital retail channels now account for approximately 22.5% of total retail transactions, a significant increase from 12.3% in 2019.

Source: TraceData Research Analysis Future Outlook and Projections for Singapore Pharmacy Retail Industry on the Basis of Revenues in USD Million, 2024-2029 The Singapore pharmacy retail market is projected to grow steadily by 2029, exhibiting a respectable CAGR during the forecast period. This growth is expected to be driven by demographic trends, increasing health awareness, and the ongoing digital transformation of the retail sector.

Key information about Singapore Retail Sales Growth

• Singapore Retail Sales dropped 3.0 % YoY in Jan 2025, compared with a 4.0 % decrease in the previous month.
• Singapore Retail Sales Growth YoY data is updated monthly, available from Jan 1986 to Jan 2025, with an average growth rate of 2.4 %.
• The data reached an all-time high of 65.6 % in May 2021 and a record low of -45.7 % in May 2020.
• In the latest reports, Car Sales of Singapore recorded 4,340.0 units in Nov 2024, representing a growth of 44.7 %.

The Singapore travel retail market is projected to exhibit a robust CAGR of 6.00% during the forecast period 2025-2033, reaching a market size of USD 53 million by 2033. This growth is attributed to the increasing number of international tourist arrivals, rising disposable income levels, and the expansion of the tourism sector. Singapore is a popular tourist destination due to its cultural diversity, historical landmarks, and modern attractions. The increasing number of travelers visiting the country has led to a surge in demand for travel retail products, including beauty and personal care items, wines and spirits, tobacco, eatables, fashion accessories, and hard luxury goods. The market is dominated by major players such as DFS Venture (Singapore), WH Smith, Lagardere Travel Retail Singapore, Lotte Duty Free, The Shilla Duty Free, Durfy Singapore, Heinemann Asia Pacific, 3sixty duty free, Shiseido Travel Retail, Watsons Personal Care Stores, SMI Retail, Guardian Health & Beauty Singapore, Gassan Singapore, DFASS (Singapore), Candy Empire, and iShopChangi. These companies offer a wide range of products and services to cater to the needs of travelers. The market is also characterized by the presence of several small and medium-sized retailers. The competitive landscape is expected to remain fragmented during the forecast period, with major players focusing on product innovation, promotional activities, and strategic partnerships to gain market share. Recent developments include: September 2023: Lagardere Travel Retail acquired Tastes on the Fly, which operates restaurants and food and beverage concepts. The acquisition helps Lagardère to grow its food service expertise., July 2023: DFS Group, a global luxury travel retailer, launched a series of exclusive experiences that offer guests personalized shopping journeys leveraging AR and AI technology. This will help the company to capture more market share.. Key drivers for this market are: Growing Tourism Across The Globe, Growing Airport Infrasturcture. Potential restraints include: Growing Tourism Across The Globe, Growing Airport Infrasturcture. Notable trends are: Tourist Arrivals in Singapore is Driving the Market.

This report is the result of Conlumino’s extensive market research covering Singapore Value, Variety Stores and General Merchandise Retailers. It provides detailed historic and forecast sales value of the market at channel level. "Value, Variety Stores and General Merchandise Retailers in Singapore: Market Snapshot to 2019" provides a top-level overview and detailed insight into the operating environment of Singapore retail industry. It is an essential tool for companies active across Singapore retail value chain and for new players considering entering the market. Read More

In 2023, the gross domestic product (GDP) of the Singaporean wholesale and retail industry amounted to approximately ****** billion Singapore dollars, indicating an increase from the previous year. The wholesale and retail sector had also seen a decrease in the year due to the COVID-19 pandemic in the previous year.

The Singapore travel retail market, valued at $53 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) exceeding 6% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, Singapore's strategic location as a major aviation hub and its strong tourism sector contribute significantly to high passenger traffic, creating a large potential customer base for duty-free and travel retail products. Secondly, the increasing disposable incomes of both domestic and international travelers, coupled with a preference for luxury goods and experiences, further boosts demand within this sector. The diverse product offerings, encompassing beauty and personal care, wines and spirits, tobacco, edibles, fashion accessories, and hard luxury items, cater to a broad spectrum of consumer preferences. Finally, the evolving distribution channels, including airports, airlines, ferries, and other emerging platforms, enhance accessibility and convenience for shoppers, stimulating market growth. Competition within the market is intense, with major players such as DFS Venture (Singapore), Lotte Duty Free, and The Shilla Duty Free vying for market share alongside a multitude of smaller operators specializing in niche products or distribution channels. The market's segmentation reveals strong growth potential across all product categories. While beauty and personal care likely remains a dominant segment, the increasing popularity of premium wines and spirits, alongside the consistent demand for fashion accessories and hard luxury items, contributes to the overall market expansion. The airport channel will continue to dominate distribution, although the increasing integration of online platforms and the expansion of duty-free offerings on airlines and ferries are likely to reshape the landscape in the coming years. While challenges such as economic fluctuations and evolving consumer preferences exist, the positive outlook for tourism in Singapore and the continuous innovation within the travel retail sector are expected to offset these restraints, ensuring sustained growth throughout the forecast period. Recent developments include: September 2023: Lagardere Travel Retail acquired Tastes on the Fly, which operates restaurants and food and beverage concepts. The acquisition helps Lagardère to grow its food service expertise., July 2023: DFS Group, a global luxury travel retailer, launched a series of exclusive experiences that offer guests personalized shopping journeys leveraging AR and AI technology. This will help the company to capture more market share.. Key drivers for this market are: Growing Tourism Across The Globe, Growing Airport Infrasturcture. Potential restraints include: Growing Tourism Across The Globe, Growing Airport Infrasturcture. Notable trends are: Tourist Arrivals in Singapore is Driving the Market.

Verdict Retail’s, "Retail Sales of Home Furniture and Homewares Retailers in Singapore: Market Size, Growth and Forecast to 2020" provides detailed historic and forecast statistics on retail sales from 2010 to 2020 taking place at "Home Furniture and Homewares Retailers" for each category at segment level. However, delivered wholesale sales are not included. The segment level analytics are provided for the following product categories: Furniture and floor coverings Home and garden products Verdict Retail categorizes "Home Furniture and Homewares Retailers" as According Verdict Retail “Home Furniture and Homewares Retailers” are those retailers where floor coverings, furniture and/or Homeware are the main footfall drivers and account for the majority of sales. "Retail Sales of Home Furniture and Homewares Retailers in Singapore: Market Size, Growth and Forecast to 2020" report is the result of Verdict Retail’s extensive market research covering the retail industry in Singapore. The report acts as an essential tool for companies active across the Singapore’s retail industry and for new players considering entering the market. The comprehensive statistics within the report provides insight into the operating environment of the market and also ensures right business decision making based on historical trends and industry model based forecasting. This is an on-demand report and will be delivered within 2 working days (excluding weekends) of the purchase. Read More

Market Size for Singapore Pharmacy Retail Market on the Basis of Revenue in THB Billion, 2018-2024 In 2023, Guardian launched an enhanced online platform to improve customer experience and streamline the purchase process for pharmacy products. This initiative aims to tap into the growing digital market in Singapore and provide a more convenient shopping experience. Central and Western regions are key markets due to their high population density and robust healthcare infrastructure. The Singapore pharmacy retail market reached a valuation of SGD 3 Billion in 2023, driven by the increasing demand for healthcare products, an aging population, and a growing focus on wellness and preventive care. The market is characterized by major players such as Guardian, Watsons, Unity Pharmacy, and online platforms like Lazada Health. These companies are recognized for their extensive retail networks, diverse product offerings, and customer-focused services.

The Market Report Covers Consumer Luxury Goods Companies in Singapore and is Segmented by Type (Clothing and Apparel, Footwear, Bags, Jewelry, Watches, and Other Accessories); and by Distribution Channel (Single-branded Stores, Multi-brand Stores, Online Retail Stores, and Other Distribution Channels). The market size is provided in terms of values (USD Million) during the forecasted years for the above segments.

The statistic presents the market size of traditional and modern grocery retail in Singapore in 2016. In the period examined, the modern grocery retail market was valued at approximately **** billion U.S. dollars, more than twice as much as the traditional food retail market.

Verdict Retail’s, "Retail Sales of Department Stores in Singapore: Market Size, Growth and Forecast to 2020" provides detailed historic and forecast statistics on retail sales from 2010 to 2020 taking place at "Department Stores" for each category at segment level. However, delivered wholesale sales are not included. The segment level analytics are provided for the following product categories: Apparel, accessories, luggage and leather goods Books, news and stationery Electrical and electronics Food and grocery Furniture and floor coverings Health and beauty Home and garden products Music, video and entertainment software Sports and leisure equipment Verdict Retail categorizes "Department Stores" as multi-Channel retailers, focusing primarily on non-grocery categories with distinct departments specializing in defined product areas. "Retail Sales of Department Stores in Singapore: Market Size, Growth and Forecast to 2020" report is the result of Verdict Retail’s extensive market research covering the retail industry in Singapore. The report acts as an essential tool for companies active across the Singapore’s retail industry and for new players considering entering the market. The comprehensive statistics within the report provides insight into the operating environment of the market and also ensures right business decision making based on historical trends and industry model based forecasting. This is an on-demand report and will be delivered within 2 working days (excluding weekends) of the purchase. Read More