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Retail Operations

Singapore Retail Industry Statistics (2026)

Web Admin · · 6 min read

Singapore Retail Industry Statistics (2026)

If you sell, stock or move goods in Singapore, you need current numbers – not guesses. This collection of singapore retail statistics pulls together market size, retail sales growth, online penetration, sub-sector performance, rents, tourism spend and employment for the local retail industry. Every figure below is sourced from a named authority (SingStat, the Singapore Tourism Board, URA, Knight Frank, Mordor Intelligence and others), cited inline with a link and the data year, so you can quote them with confidence.

Top statistics

  • Singapore’s retail market was valued at about US$50.4 billion in 2025, forecast to reach US$58.6 billion by 2031 (Mordor Intelligence, 2025).
  • Total estimated retail sales value was around S$4.6 billion in December 2024 (Department of Statistics Singapore, 2024).
  • Retail sales grew 4.8% year-on-year in July 2025, and 8.3% year-on-year in February 2026 (SingStat, 2025-2026).
  • Online sales made up an estimated 13.3% of total retail sales in December 2024, rising to 14.4% in January 2026 (SingStat, 2024-2026).
  • Food, Beverage & Tobacco is the largest retail category at 48.4% of the market in 2025 (Mordor Intelligence, 2025).
  • Singapore drew 16.5 million visitors in 2024, a 21% year-on-year rise, with tourism receipts on track for a new record above 2019’s S$27.7 billion (Singapore Tourism Board, 2024).
  • Islandwide private retail vacancy fell to 6.4% in Q4 2025 from 7.2% a quarter earlier (CBRE on URA data, 2025).
  • Prime Orchard Road retail rents averaged about S$31.20 psf per month in Q1 2025 (Knight Frank, 2025).
  • Singapore’s retail sector has over 29,000 establishments and accounts for roughly 3% of total employment (MyCareersFuture / MTI, 2024).

Retail market size and growth

  • Singapore’s retail market was estimated at US$50.38 billion in 2025 and US$51.66 billion in 2026 (Mordor Intelligence, 2025-2026).
  • The market is projected to reach US$58.56 billion by 2031, a CAGR of about 2.54% from 2026 to 2031 (Mordor Intelligence, 2026-2031).
  • Total estimated retail sales value was about S$4.6 billion in December 2024 (SingStat, 2024).
  • Retail sales fell 2.9% year-on-year in December 2024 (down 4.0% excluding motor vehicles), reflecting a soft patch (SingStat, 2024).
  • Momentum recovered through 2025-2026: retail sales rose 4.8% year-on-year in July 2025 and 8.3% in February 2026 (SingStat, 2025-2026).
  • Trading Economics recorded a 3% year-on-year rise in retail sales for May 2026, slowing from 5.4% the prior month (Trading Economics, 2026).

Retail sales by sub-sector

  • Food, Beverage & Tobacco led all product categories with a 48.4% share of the retail market in 2025 (Mordor Intelligence, 2025).
  • Supermarkets were the leading retail format at 43.4% share in 2025, while convenience stores were the fastest-growing format (3.46% CAGR to 2031) (Mordor Intelligence, 2025-2031).
  • Personal Care & Household Care is the fastest-growing category at a projected 10.87% CAGR through 2031 (Mordor Intelligence, 2031).
  • Supermarkets & hypermarkets sales surged about 19.2% year-on-year in February 2024 before moderating later in the year (SingStat, 2024).
  • Department stores remained a weak spot, contracting about 5.7% year-on-year in March 2024 (SingStat, 2024).
  • Food & beverage services turnover was estimated at about S$1.0 billion in December 2024, up 1.0% year-on-year, with food caterers growing the fastest at 16.7% (SingStat, 2024).

Online retail and e-commerce share of singapore retail statistics

  • Online sales were an estimated 13.3% of total retail sales in December 2024, easing to 11.6% in January 2025 (SingStat, 2024-2025).
  • Online penetration climbed through 2025-2026, reaching about 14.8% in December 2025 and 14.4% in January 2026 (SingStat, 2025-2026).
  • Online channels made up 50.7% of Computer & Telecommunications Equipment sales, 30.1% of Furniture & Household Equipment and 11.3% of Supermarkets & Hypermarkets (SingStat, 2024).
  • An estimated 24.8% of food & beverage services sales were online in December 2024, reflecting entrenched delivery habits (SingStat, 2024).
  • E-Commerce & Others is the fastest-growing retail channel, projected at a 6.37% CAGR through 2031, versus a 59.9% modern-trade share in 2025 (Mordor Intelligence, 2025-2031).

Retail rents and physical stores

  • Prime Orchard Road retail rents averaged about S$31.20 psf per month in Q1 2025, up from S$30.70 psf in Q2 2024 (Knight Frank, 2024-2025).
  • The islandwide average gross rent for prime retail space was about S$28.50 psf per month in Q4 2025, up 0.5% quarter-on-quarter (Knight Frank, 2025).
  • Islandwide private retail vacancy fell to 6.4% in Q4 2025 from 7.2% in Q3 2025 (CBRE on URA data, 2025).
  • Vacancy had earlier risen from 6.0% in Q4 2024 to 6.6% in Q1 2025 before improving (Savills, 2024-2025).
  • The islandwide private retail market saw positive net absorption of about 34,000 sq m (roughly 366,000 sq ft) in Q4 2025 (CBRE on URA data, 2025).
  • Islandwide average prime retail rents surpassed pre-COVID (2019) levels for the first time in 2025, signalling recovery in the best-located space (CBRE on URA data, 2025).

Consumer spending, tourism and confidence

  • Singapore welcomed 16.5 million international visitors in 2024, up 21% year-on-year (Singapore Tourism Board, 2024).
  • Tourism receipts reached about S$22.4 billion in the first nine months of 2024, up 10% year-on-year, with the full year set to beat 2019’s S$27.7 billion record (Singapore Tourism Board, 2024).
  • Visitor shopping spend rose about 5-6% year-on-year over January-September 2024, though shopping made up under 20% of visitor spending as travellers favoured experiences (Singapore Tourism Board, 2024).
  • Household final consumption expenditure reached about US$172.4 billion in 2024 (World Bank, 2024).
  • Quarterly consumer spending was about S$55.3 billion in Q4 2025, easing to S$53.6 billion in Q1 2026 (Trading Economics, 2025-2026).

Employment and operations

  • The retail sector spans over 29,000 establishments and accounts for roughly 3% of total employment in Singapore (MyCareersFuture / MTI, 2024).
  • Retail trade contributed to resident employment growth in 2024, supported by seasonal hiring in Q4 (MyCareersFuture / MTI, 2024).
  • With online penetration climbing toward 15% and prime rents at record levels, margins hinge on operational discipline – accurate stock counts, tight replenishment and low leakage. On inventory leakage specifically, see our dedicated retail shrinkage statistics for the loss and theft figures we do not repeat here.

How WhiteBox helps

Numbers like these only translate into profit when your stock, sales channels and stores are working off one accurate picture. WhiteBox helps Singapore retailers unify inventory across online and offline, cut stockouts and reconcile shrinkage – see our retail operations guide or get in touch to discuss your setup.

Frequently asked questions

How big is Singapore’s retail market? Singapore’s retail market was estimated at about US$50.4 billion in 2025 and is forecast to reach US$58.6 billion by 2031 (Mordor Intelligence). Monthly retail sales value ran around S$4.6 billion in December 2024 (SingStat).

What share of Singapore retail is online? Online sales were an estimated 13.3% of total retail sales in December 2024, rising to about 14.4% by January 2026 (SingStat). Penetration is far higher in categories like computer and telecoms equipment, where over half of sales are online.

Is retail growing or shrinking in Singapore? After a soft patch (sales fell 2.9% year-on-year in December 2024), growth returned in 2025-2026, with retail sales up 4.8% year-on-year in July 2025 and 8.3% in February 2026 (SingStat).

How expensive are Singapore retail rents? Prime Orchard Road rents averaged about S$31.20 psf per month in Q1 2025, while islandwide prime retail averaged around S$28.50 psf in Q4 2025 (Knight Frank), with vacancy at 6.4% in Q4 2025 (CBRE/URA).

How much do tourists add to retail spending? Singapore drew 16.5 million visitors in 2024 (up 21%), with shopping spend up about 5-6% year-on-year in the first nine months, though shopping is under a fifth of total visitor spending (Singapore Tourism Board).

Sources

Cite us: If you reference these figures, please credit WhiteBox (whitebox.sg) and link back to this page so readers can trace each statistic to its original source.

Related reading: Retail Operations Guide, Retail Shrinkage Statistics, Singapore E-commerce Statistics and Best Inventory Management Software Singapore.

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