"Singapore Retail Report Q2 2016" is now available at Fast Market Research

We see little prospects for a significant recovery in Singapore's economic growth over the coming year , amid poor external demand conditions and ongoing domestic structural difficulties. Following a 2.1% expansion in 2015, we hold our forecast for real GDP growth to hit 2.3% in 2016. Nonethel ess, we maintain our view that strong economic fundamentals will continue to drive expansion in Singapore's retail market. Supported by an extremely tight labour market and gradual wage rises, we forecast real private consumption growth to accelerate to 4.3% in 2016 (up from 3.5% in 2015).

Key Views & Developments:

Full Report Details at
- http://www.fastmr.com/prod/1119070_singapore_retail_report_q2.aspx?afid=301

According to the Department of Statistics Singapore, retail sales (seasonally adjusted) increased by 1.4% (month-on-month) in November 2015. Compared to November 2014, total retail sales increased 4.7% in November 2015, mainly due to higher sales in motor vehicles. Excluding motor vehicles, retail sales declined 2.0%.

Based on the data from the commercial real estate firm DTZ, in 2015 the average first-storey rents in Singapore fell by 5.9% (year-on-year) compared to the slower decline of 0.3% (year-on-year) in 2014. Rents in the prime areas, such as Orchard/Scotts Road, were the most resilient, while rental prices in sub-urban areas saw greater declines.

In partnership with the US brand ACE Hardware, one of Singapore's leading retailer of electrical goods and homewares, Courts Singapore, opened its first 8,000 square meter Ace Home Improvement Solutions store in Singapore.

In November 2015, Apple Inc. confirmed that it will open its first retail outlet in South East Asia in 2016, which will be located in Singapore.

The Singapore Retail Report has been researched at source and features BMI Research'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.

Key Benefits
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.

Coverage

BMI Industry View

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