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Singapore Retail Report Q4 2013 - New Market Research Report

New Retailing market report from Business Monitor International: "Singapore Retail Report Q4 2013"


Boston, MA -- (SBWIRE) -- 10/11/2013 -- The Singapore Retail Report examines the long-term potential of the local consumer market, but flags shortterm concerns about the impact on Singapore's economic outlook of the threat of elevated inflation and subdued growth.

The report examines how best to maximise returns in the Singapore retail market while minimising investment risk, and explores the impact of tepid growth in the US and Japan, as well as the ongoing eurozone crisis and China's hard landing, on the Singapore consumer and on the ability of producers and exporters to realise returns in the short term.

The report also analyses the growth and risk management strategies being employed by the leading players in the Singapore retail sector, as they seek to maximise the growth opportunities offered by the local market. Singaporean per capita consumer spending is forecast to increase by 32% to 2017, compared with a regional growth average of 43%. Singapore comes last in BMI's Asia Retail Risk/Reward Ratings, although it outperforms significantly for risk.

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Among all retail categories, automotives will be the outperformer through to 2017 in growth terms. Unit sales are forecast to increase by 49.3%from 35,304 units in 2013 to 52,725 units by 2017, as Singapore reaps the benefits of its thriving re-export industry with European car firms such as Renault and BMW. In the competitive arena, BMI sees upside potential in government investment in public transport to cut back on congestion and pollution.

Over the last quarter, BMI has revised the following forecasts/view:

- Singapore's labour market has proven itself time and again to be among the most resilient and structurally sound in the world. However, with political realities demanding a new, more protectionist labour framework, higher long-term inflation and a dangerously tight labour market will present growing risks for the city-state's economy over the medium term. Although we forecast real GDP growth to average 3.1% through to 2017 (including expansion of 2.5% in 2013), we believe that risks are therefore to the downside. Private consumption is likely to grow by 3.5% in real terms in 2013 as the Singaporean consumer is supported by solid wage growth and an air-tight labour market. As a proportion of the economy, we expect private consumption to expand to 39.6% from 39.2% previously.

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