New market study, "Singapore Retail Report Q1 2011", has been published

New Retailing research report from Business Monitor International is now available from Fast Market Research
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Nov. 25, 2010 - PRLog -- The Q111 BMI Singapore Retail Report forecasts that total retail sales will grow from an estimated SGD42.52bn (US$30.16bn) in 2011 to SGD46.40bn (US$34.89bn) by 2014. A low unemployment rate, rising disposable income and a strong tourism industry are key factors behind the forecast growth. Singapore's nominal GDP is forecast to be US$219.81bn in 2011. Average annual GDP growth of 4.2% is predicted by BMI for the period through to 2014. With the population expected to increase from 5.2mn to 5.3mn over the forecast period, GDP per capita is predicted to rise from US$42,373 in 2011 to US$52,827 by 2014. Our forecast for consumer spending per capita is for an increase from US$16,002 in 2011 to US$19,676 by the end of the forecast period.

The Singapore Department of Statistics' figures show that median monthly household income from work among all resident households increased by 13% from SGD4,380 (US$3,068) in 2007 to SGD4,950 (US$3,469) in 2008. The number of households in higher income brackets also increased, with the proportion of employed households earning at least SGD7,000 (US$4,900) per month increasing from 33% in 2007 to 39% in 2008.

Visitor arrivals to Singapore declined by 4.3% y-o-y in 2009 to 9.7mn, with the Singapore Tourist Board (STB) stating its previous target of 17mn visitor arrivals and SGD30bn (US$21bn) in tourism receipts in 2015 will be a challenge. However, with the opening of the World Sentosa and Marina Bay Sands resorts, the STB is targeting 11.5-12.5mn visitor arrivals and SGD17.5-18.5bn in tourism receipts for 2010. The 18% y-o-y increase in tourist arrivals to 996,000 in August 2010 represented the ninth consecutive month in which record numbers had been noted, said the STB.

BMI forecasts the over-the-counter (OTC) pharmaceutical sector to be worth US$0.13bn in 2011, and that sales will increase by nearly 13% to US$0.15bn by 2014.

Sales of consumer electronics products are expected to increase by 12%, from US$3.50bn in 2011 to US$3.92bn by the end of the forecast period on the back of strong demand for high-end products such as multimedia notebooks, 3G phones and smartphones.

BMI food consumption data suggest that the food retail segment will have a market share of 23.0% in 2011. The sub-sector is forecast to be worth US$6.93bn in 2011, and sales are expected to grow to US$7.52bn by 2014. Given that expansion of non-food retail is expected significantly to exceed that of the food segment, our forecasts suggest a reduction in the retail market share of food to 21.6% by 2014. Per capita food consumption is still forecast to be US$1,415 in 2014, which is impressive for the region. Mass grocery retail (MGR) sales are forecast to be US$3.11bn in 2011 and to grow by nearly 20% to US$3.73bn by 2014, more than double the rate of growth for overall food sales. This would take MGR's share of the overall food market from 44.9% in 2011 to 49.6% by the end of the forecast period.

Retail sales for the BMI universe of Asian countries in 2011 are a forecast US$3.09trn. China and India are predicted to account for more than 91% of regional retail sales in 2011, and by 2014 their share of the regional market is expected to be more than 92%. Growth in regional retail sales for 2011-2014 is forecast by BMI at 48.1%, an annual average 15%. China should experience the most rapid rate of growth, followed by Indonesia. Singapore's market share of 1.0% in 2011 is forecast to fall to 0.8% by 2014.

For more information or to purchase this report, go to:

Partial Table of Contents:

Executive Summary
SWOT Analysis
- Singapore Retail Business Environment SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
Business Environment Outlook
Asia Pacific Retail Business Environment Ratings
- Table: Asia Pacific Retail Business Environment Ratings
- Singapore's Retail Rating
- Limits Of Potential Returns
- Risks To Realisation Of Returns
Market Overview
- Key Players
- Current Trends
Industry Forecast Scenario
- Retail Growth Outlook
- Table: Key Retail Indicators, 2007-2014
- Table: Retail Sales Breakdown By Key Segment, 2011f
- Macroeconomic Outlook
- Table: Singapore - Economic Activity, 2007-2014
Regional Retail Outlook
- Asia Pacific Retail Regional Outlook
- Table: Asia Retail Sales, 2007-2014 (US$bn)
- Table: Asia Food Consumption, 2007-2014 (US$$bn)
- Table: Asia Macroeconomic Outlook, 2007-2014
Mass Grocery Retail
- Singapore Mass Grocery Retail SWOT
- Market Overview
- Table: Structure Of Mass Grocery Retail Market By Estimated Number Of Outlets
- Table: Structure Of Mass Grocery Retail Market By Value (SGDbn)
- Table: Estimated Average Sales Per Outlet By Format, 2008
- Industry Forecast Scenario
- Table: Mass Grocery Retail Indicators - Historical Data & Forecasts
- Industry Developments
Consumer Electronics
- Singapore Consumer Electronics SWOT
- Singapore Electronics Industry SWOT
- Market Overview
- Computers
- Table: Computers - Demand (US$mn)
- AV
- Table: AV - Demand
- Communications
- Table: Mobile Handsets - Demand
- Industry Forecast Scenario
- Table: Consumer Electronics Overview
- Industry Developments
- Singapore Autos Industry SWOT
- Market Overview
- Table: Singapore: Top 20 New Vehicle Registrations By Company, 2009
- Table: Singapore: Top 20 New Vehicle Registrations By Company, H110
- Commercial Vehicles
- Table: Singapore: Commercial Vehicle Market - New Registrations
- Table: Singapore: Commercial Vehicle Market By Brand 2009 (Top 10)
- Industry Forecast Scenario
- Table: Singapore Automotive Sector Registered Vehicles: Historical Data And Forecasts (CBUs)
Country Snapshot: Singapore Demographic Data

Full Table of Contents is available at:

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at

About Fast Market Research

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For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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Industry:Retail, Shopping, Research
Location:Massachusetts - United States
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