New Retailing research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/07/2014 -- The Singapore retail sector is set to continue to grow over the next few years on the back of a low unemployment rate, rising disposable income and a strong tourism industry. These should all result in a strong rise in household spending across all retail subsectors. We are particularly positive about the future growth prospects for health, education and recreation & culture, with communications and personal care & insurance also forecast to grow steadily; however, we expect the highest proportion of the household budget to be spent on housing & utilities throughout our forecast period, with personal care & insurance and transport also taking a substantial share, as might be expected from a developed, sophisticated market.
The Singapore retail report provides an extensive and comprehensive forecast of various retail indicators including household spending and headline total spending across each retail subsector, household income and employment forecasts, demographic forecasts and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink, clothing & footwear, household goods and a number of other subsectors.
View Full Report Details and Table of Contents
The Singaporean retail industry has grown in scale and sophistication over the past decade, with larger department stores, supermarkets and hypermarkets, chain stores and franchised operations, such as those operated by Wing Tai Retail, all proliferating. More recently, the opening of large shopping malls has increased the lifestyle element of shopping in Singapore, with retail concepts carefully chosen to appeal to specific consumer groups.
Today, Singapore is widely regarded as one of the most vibrant and exciting shopping destinations in Asia, and is a key target for international retailers. Its top retail asset is Orchard Road, which has been likened to New York's Fifth Avenue, the Champs Elys?es in Paris and Oxford Street in London. Analysts estimate that Orchard Road derives some...
The Singapore Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.
BMI's Singapore Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.
- Benchmark BMI's independent retail industry forecasts for Singapore to test other views - a key input for successful budgeting and strategic business planning in the Singaporean retail market.
- Target business opportunities and risks in Singapore through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
BMI Industry View
Summary of BMI?s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the retail sector and within the broader political, economic and business environment.
BMI Industry Forecasts
There are four separate 5-year forecast modules in the retail reports. These are:
Headline Retail Forecast: Total Household Spending, (US$bn and local currency, % growth, % GDP, per capita, per household); Spending by Retail Sector for: food and non-alcoholic drink, alcoholic drink, clothing and footwear, housing and utilities, furnishings and home, health, transport, recreation, education, transport, restaurants and hotels, personal care and insurance (US$bn and local currency, % growth, % GDP, % of total spending)
Retail Sector Forecast: Breakdown of Food, Non Alcoholic Drink, Alcohol, Tobacco, Clothing, Footwear, Household Goods, Furnishings, Appliances, Glass and Tableware, Household Textiles, Consumer Electronics, Garden Toys and Pets, Home and Garden tools, Personal Care, Personal Effects Spending (US$bn, % Growth);
Household Income and Numbers Forecast: Number of Households (?000,% growth); gross income per household and per capita; net income per household and per capita; tax and social contributions per capita; breakdown of household incomes ? US$5000+, US$10,000+ US$50000+ (?000, % of total); labour force, employment and unemployment (?000, % change)
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