The Singapore Retail Market Report is Segmented by Product Type (Food, Beverage & Tobacco Products, Personal Care & Household Care, Apparel, Footwear & Accessories, Furniture, Toys & Hobby, Industrial & Automotive, Electronic & Household Appliances, Other Products), Retail Channel (Traditional Mom & Pop Retail, and Other), Format (Hypermarkets, Supermarkets, and Other). The Market Forecasts are Provided in Terms of Value (USD).

The Singapore retail market value 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 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.

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.

Singapore retail market valued at USD 135-140 billion, driven by e-commerce growth at 20% annually, tourism recovery, and omnichannel strategies for enhanced consumer spending.

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.

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.

Gain insights into the Singapore Retail Market, size at USD 53.89 billion in 2023, featuring key trends and future opportunities.

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.

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 %.

Retail Sales in Singapore increased 5.20 percent in August 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.

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.

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 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.

Singapore travel retail market is valued at USD 52.8 billion, driven by rising international travelers, tourism growth, and Changi Airport's dominance in luxury goods and cosmetics.

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

In 2023, NTUC FairPrice had a ** percent share of the food retail market in Singapore, making it the largest food retailer in the country. NTUC FairPrice operates several popular supermarkets and convenience store chains, such as FairPrice and Cheers.

This databook uses data from GlobalData’s Retail database showing the trends in the market and sectors by value. It also reveals the major retailers by market share in 2020 in each of the sectors. All data includes the impact COVID-19 has had on sales in 2020 (forecasted at the date of publication). Read More

The Singapore Travel Retail Market was valued at USD 5.80 Billion in 2024 and is projected to reach USD 11.73 Billion by 2032, growing at a CAGR of 9.2% from 2026-2032.

Singapore Travel Retail Market: Definition/ Overview

Travel retail is the sale of goods and services at venues that cater to travelers, such as airports, cruise ships, border shops, and duty-free zones. It sells a wide range of products, including luxury goods, cosmetics, alcohol, tobacco, fashion, and gadgets, primarily to international visitors and business travelers.The market is expected to expand due to increased travel, digital integration, and individualized purchasing experiences. Emerging trends, such as multichannel retail, sustainable products, and AI-powered recommendations, will boost consumer involvement and sales.