There are around 22,000 establishments, in the retail sector today, contributing almost 1.4% to GDP and 3% of total employment*, making it a key industry for the nation.

How big is the retail industry in Singapore?

There are around 22,000 establishments, in the retail sector today, contributing almost 1.4% to GDP and 3% of total employment*, making it a key industry for the nation.

What is retail sale index?

The Retail Sales Index (RSI) measures the short-term performance of retail industries based on the sales records of retail establishments. The RSI is presented at both current prices and constant prices.

How big is food industry in Singapore?

While Singapore is known as a food paradise, its burgeoning food manufacturing industry is more of a hidden gem. In 2017, this industry contributed S$4.3 billion or 1.1% to our GDP, and employed more than 48,000 workers. More than half of Singapore’s food manufacturing industry’s output is exported.

What is food and drink manufacturing?

The food and drink manufacturing industry actually comprises over 30 different industries. These include slaughterhouses, meat, poultry and fish processing, grain mills, maltings, bakeries, sugar confectionery, fruit and vegetable processing, oils and fats, margarine and edible oils, pasta, baby foods and dairies.

What is Singapore retail industry?

The Singapore Retail Sector is segmented by Products into Food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys and Hobby, Electronic and Household Appliances, and Other Products, and by Distribution Channel into Hypermarkets, Supermarkets and Convenience Stores, Specialty …

Why is the retail industry important to Singapore?

The retail industry in Singapore contributes about 1.4 percent to the GDP and employs three percent of the country’s workforce. However, traditional Singapore retail stores are struggling to keep themselves afloat, with the triple threat of rising costs, declining sales and industry disruption from e-commerce.

Is F&B a retail?

Retail trade establishments sell merchandise directly to the consumers, while F&B services establishments sell prepared food and drinks for consumption on premises or on a take-away basis.

What percentage of GDP is retail sales?

Retail sales include sales of services and durable and non-durable goods within a specific time period. Consumer spending is almost 70% of U.S. GDP, making retail sales a good economic indicator. The U.S. Census Bureau publishes data on retail sales every month.

How many food and beverage establishments are there in Singapore?

In 2019, there were around 13 thousand food and beverages establishments in Singapore. These establishments included restaurants, fast food outlets, food caterers, cafes, food courts, and other eating places. You need a Single Account for unlimited access.

What is the food&beverage sales value?

Grading of the food establishments including meat, fish and processed food establishments, cold stores and slaughter-houses The Food & Beverage Sales Value is compiled from the results of the Monthly Survey of Food & Beverage Services.

What factors shape the strategies of Singapore Food and drinks companies?

Constantly shifting trends among the consumers is the primary factor shaping the strategies of Singapore Food and Drinks companies. Change in lifestyles, growing demand for processed and ready to eat foods has increased among the consumers, which is boosting Singapore’s food and beverages market growth.

What is the Food&Beverage Services Index?

The Food & Beverage Services Index (FSI) measures the short-term performance of food & beverage (F&B) services industries based on the sales records of F&B services establishments. The FSI is presented at both current prices and constant prices.