PROSPECTS AND OPPORTUNITIES
Department stores faces uphill battle for recovery
Department stores in Singapore recorded a decline in retail sales in 2024, in trend set to persist throughout the forecast period. Although some growth had been seen post-pandemic, driven in part by renewed consumer spending, the overall outlook remains subdued.
Miniso will continue to drive growth through brand collaborations
Miniso, which operates nearly 30 outlets in Singapore, enjoys significant traction with local consumers thanks to reasonable prices, widespread store coverage, and a multi-category range that includes beauty and personal care, homeware and toys. Over 2024, Miniso has bolstered its appeal by focusing on intellectual property (IP) collaborations.
Don Don Donki likely to invest further in expansion
Don Don Donki, a Japanese variety store chain, has found considerable success in Singapore. Its signature theme tune and distinctive store layout attract attention, but equally important is its wide range of Japanese grocery and non-grocery products offered at affordable prices.
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Overview:
Understand the latest market trends and future growth opportunities for the General Merchandise Stores industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the General Merchandise Stores industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The General Merchandise Stores in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of General Merchandise Stores in Singapore?
- Which are the leading retailers in General Merchandise Stores in Singapore?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
General Merchandise Stores in Singapore - Category analysis
KEY DATA FINDINGS
Stronger currency shapes consumer spending decisions
MUJI focuses on sustainability and value in flagship store
Rising cost of living fuels growth for variety stores
Department stores faces uphill battle for recovery
Miniso will continue to drive growth through brand collaborations
Don Don Donki likely to invest further in expansion
Retail in Singapore - Industry Overview
Retail in 2024: the big picture
Experiential retail as key focus as retailers look to redefine the role of the store
Artificial intelligence drives development
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Lunar New Year
Hari Raya Aidilfitri (or Hari Raya Puasa)
Christmas and New Year
DISCLAIMER
The following categories and subcategories are included:
General Merchandise Stores
- Department Stores
- Variety Stores
General Merchandise Stores
The aggregation of department stores and variety stores.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our General Merchandise Stores research and analysis database.
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