Retail

Retail sales are expected to grow 10% in 2022 from 11.1% in 2021.

In May, retail sales grew 17.8% YoY.

Sales of clothing and footwear posted strong growths.

Singaporeans are top spenders on Single’s Day, second only to China.

The average number of international destination markets in Singapore is 35.

The satisfaction level dropped by 1.5% YoY to 71.3 points in 2022.

Analysts predict the full-year retail sales to grow around 9%-10%.

Excluding motor vehicles, total retail sales increased by 22.6% YoY.

An expert from Intrepid warned against ‘shopper fatigue’ triggered by frequent large-scale shopping events.

This brings its total capital raised to over $319.36m

Four in 5 Singaporean millennials look for shopping ideas online.

However, most prefer to purchase products through the internet.

Some middle-aged Singaporeans are skeptical. 

Consumers are doing more than just paying a premium for sustainable goods.

Most shoppers expect the government to lead sustainability efforts.

The company currently operates in Malaysia, Singapore, and 8 other markets in the region.