Retail in Asia

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Report: Singapore Retail Q2 2010

Research and Markets has released its Singapore Retail Report Q2 2010.

The report forecasts that total retail sales in the city-state will grow from an estimated USD28.98 billion in 2009 to USD41.14 billion by 2014. A low unemployment rate, rising disposable income and a strong tourism industry are key factors behind the forecast growth.

The report forecast for consumer spending per capita is for an increase from USD16,731 in 2009 to USD21,597 by the end of the forecast period. Singapore Department of Statistics retail category figures suggest that the leading retail subsector in Singapore is the automotives industry, with estimated sales of USD11.86 billion in 2009. Sporting, other recreational goods and personal effects accounted for USD2.52 billion of sales; furniture, furnishings and other household equipment for USD2.28 billion; jewellery, watches and clocks for USD1.92 billion; textiles, clothing, footwear and leather goods for USD1.68 billion; computers, telecommunications and office equipment for USD1.20 billion; and optical and photographic goods, books, magazines and paper products for USD0.96 billion.

To view the full summary or purchase the report, visit Research and Markets.

(Source: Research and Markets)