Retail
Experts cut retail sales growth forecast to 3.0% in 2023
Experts cut retail sales growth forecast to 3.0% in 2023
Year-to-date, retail sales have grown 2.9%.
Retail sales climb 0.6% YoY in September
Month-on-month, however, sales fell by 1.6%.
Prime retail rents to increase between 3% to 5% in 2023
In 3Q23, the average gross rent of prime spaces island-wide rose 4.3% YoY to $26.70 psf pm.
Net profit of Sheng Siong jumps 5.7% YoY to $34.8m in 3Q23
The higher profit pushed the company's earnings per share up by 5.9% YoY.
Retail recovery drives 1.2% YoY increase in CLCT's net property income in 9M23
In 9M23, the REIT recorded a net property income of RMB316.4m ($59.8m).
How many hours do Singapore consumers spend on shopping apps?
Globally, time spent on shopping apps on Android phones alone is projected to rise 42% in 2023 from 2020.
Aampe innovates to help brands create relevant messages for unique consumers
The startup’s e-commerce client recorded a 6.7% incremental additional purchase events from consumers after generating relevant marketing messages.
Unit sales of tech and durables market drop 3% YoY in 1H23
Across subsegments, IT recorded the biggest drop in value in USD terms, falling -8%.
Singaporean Gen Zs prefer online shopping
The age group has been seeing a steady increase in spending power.
Singapore’s Consumer Association launch accreditation scheme for online businesses
This comes as they received increasing complaints from Singaporean consumers.
Here are the top shopping apps in Singapore
NTUC Fairprice is the top app for e-commerce.
SG IKEA retailer posts 2.1% YoY revenue growth to $1.67b for 2023
Its revenue in Singapore declined by 2% during the period.
Here’s how to shield brands from bad reviews online
Singaporeans tend to browse products online before picking up items in the physical store.
Changi Airport extends contract with Shilla Travel Retail until 2028
The extension covers 22 outlets across Changi Airport's terminals.
Experts suggest 3 strategies to capture Singapore’s ‘e-window shoppers’
Retailers are advised to use chatbots, provide try-on tools, and show inventory to make online shopping more convenient.
Cost-of-Living support package to boost retail sales
For 2023, UOB expects retail sales to grow by 3.5%
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