Singapore Retail Market Size, Share & Outlook 2034

The retail market in Singapore has experienced significant growth in recent years, driven by both traditional retail stores and the expanding e-commerce sector. According to a new report by Expert Market Research , the market size reached USD 36.25 billion in 2024 , and it is projected to grow at a compound annual growth rate (CAGR) of 3.70% from 2025 to 2034 , reaching USD 52.13 billion by 2034 . With a diverse and evolving consumer base, rising consumer spending, and a strong retail environment, the Singapore retail market is poised for continued growth. This article will explore the key growth drivers, emerging retail trends, and key market opportunities that are shaping the future of the retail sector in Singapore. Overview of the Singapore Retail Market Singapore has long been considered a shopping hub in Southeast Asia, with its highly developed retail infrastructure, strong consumer demand, and a wide variety of retail outlets. The retail sector in Singapore includes a ...