The Business Times
business-time-50
OUTLOOK 2025

With consumer demand diverted overseas, Singapore retailers see another tough year ahead

High rents and manpower shortages also remain challenges

Summarise
google-preferred-sourceAdd BT as a preferred source
Sharon See

Sharon See

Published Fri, Jan 10, 2025 · 05:00 AM
    • With the majority of Singaporeans exhibiting hybrid shopping behaviour, retailers with robust omnichannel sales strategies are seen as having more chance of success.
    • With the majority of Singaporeans exhibiting hybrid shopping behaviour, retailers with robust omnichannel sales strategies are seen as having more chance of success. PHOTO: BT FILE

    SINGAPORE retailers expect another tough year as consumer demand may be dampened or diverted in 2025.

    Analysts expect the retail industry to grow only modestly – and that is barring any major adverse events.

    One reason is that consumer sentiment may weaken amid greater geopolitical and economic uncertainties, not least as US president-elect Donald Trump takes office on Jan 20.

    Outlook 2025

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS shares rise 1.9% to hit all-time intraday high as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More