default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Singapore Retail Sales Jump 25% as Southeast Asian Hub Vows to ‘Live With Covid’

Singapore's Supertree Grove. Shutterstock.

In June, the market’s retail sales totalled $2.43 billion in a year-on-year boost of 25.8 percent, Retail in Asia reports.

Singapore’s Department of Statistics attributed the surge to a low base; it was only until June 18 2020 that stores began reopening. E-commerce made up 15.4 percent of overall retail sales in June, a larger portion than in May due to major sales events like the Great Singapore Sale, which this year joined forces with Alibaba-owned Lazada.

Fashion and luxury were the bestsellers behind hard luxury. Watches and jewellery sales rose 78.4 percent year-on-year, department store sales increased 61.8 percent and apparel and footwear sales were up 60 percent from 2020.

Just last week, Singaporean authorities announced plans to ease Covid-19 restrictions and slowly lift border controls, marking a shift from its earlier ‘Covid Zero’ policy. Instead, ‘living with the virus’ through a mass vaccination programme could help stabilise its retail and economic recovery. Currently, 67 percent of its population has been fully vaccinated.

Learn more:

Singapore Retailers Hit Hard by Increased Covid Restrictions

In This Article

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The State of Fashion: Technology
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
The State of Fashion: Technology