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2 clusters · 5 sources · 27 days · First seen · Last updated

Singapore retail and F&B sector trends

Overview

Singapore’s retail and food and beverage (F&B) sectors have experienced fluctuating performance amid shifting consumer and investment trends.

In July, the F&B sector saw a 1.9% year-on-year decline in sales, with food courts and cafes experiencing significant drops. The broader retail sector also slowed to 1.5% growth in July, a deceleration attributed by analysts to cautious consumer sentiment, rising living costs, and a softer labor market.

By August, retail sales showed a slight year-on-year increase of 0.7%, driven by strong demand for cosmetics, toiletries, medical goods, and telecommunications equipment. Despite this, a divergence emerged between shop-level and asset-level economics. While individual retailers face pressures from high rents and wages, there has been a surge in retail asset investments, with an estimated S$8 billion in assets changing hands. Investors are increasingly targeting retail properties for their defensive income and scarcity value.

Entities

Singapore · CBRE · RHB Banking Group · Department of Statistics · Savills

Timeline

  1. [BUSINESS] 4 sources
    Singapore retail sales rise as asset investments surge

    Singapore saw a 0.7% rise in August retail sales driven by cosmetics and electronics, while retail asset investments surged toward S$8 billion this year despite tenant pressures.

  2. [BUSINESS] 2 sources
    Singapore F&B and retail sectors face slowdown amid cautious spending

    Singapore's F&B services sales fell 1.9% in July, though fast-food saw growth. Retail sales also slowed to 1.5% as rising living costs and labor market softness impact consumer spending.

Sources

asianbusinessreview.com · newzealandnow.govt.nz · realestateasia.com · retailasia.com · toray.co.jp