{"id":82125,"date":"2024-07-25T16:36:49","date_gmt":"2024-07-25T08:36:49","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?p=82125"},"modified":"2024-07-30T17:16:49","modified_gmt":"2024-07-30T09:16:49","slug":"singapores-retail-sector-anticipates-2-growth","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/regulatory-and-business\/singapores-retail-sector-anticipates-2-growth\/","title":{"rendered":"Singapore\u2019s Retail Sector Anticipates 2% Growth"},"content":{"rendered":"<h2>Singapore\u2019s Retail Sector Has A Bright Outlook for 2024<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-82130\" title=\"Singapore\u2019s Retail Sector Anticipates 2% Growth\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2024\/07\/photo-singapores-retail-sector-anticipates-2-growth-400x300-1.png\" alt=\"Singapore\u2019s Retail Sector Anticipates 2% Growth\" width=\"400\" height=\"300\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2024\/07\/photo-singapores-retail-sector-anticipates-2-growth-400x300-1.png 400w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2024\/07\/photo-singapores-retail-sector-anticipates-2-growth-400x300-1-300x225.png 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/>Experts have an optimistic view of Singapore\u2019s retail sector, predicting that it will bring in a year-on-year increase of 2% for this year. The sector is expected to thrive for the remainder of the year, thanks to the improvement in its external environment and upcoming major events.<\/p>\n<p>&nbsp;<\/p>\n<h3>Growth Expected In the Second Half of the Year<\/h3>\n<p>Sales growth is expected to continue rising in the second half of 2024, especially after the 2.2% year-on-year increase in May. The wholesale sector is expected to grow 1.8%.<\/p>\n<p>Sales boosted last month thanks to strong motor vehicle sales and a boost in the sale of food, cosmetics, clothing, watches, and alcohol. With the upcoming Formula 1 Singapore Grand Prix in September 2024, the retail sector is expected to get another boost.<\/p>\n<p>&nbsp;<\/p>\n<h3>Programs to Boost Spending<\/h3>\n<p>To boost consumer spending further, the Government has the B2024 Cost-of-Living Special Payment and <a title=\"GSTV-Cash program\" href=\"https:\/\/supportgowhere.life.gov.sg\/schemes\/GSTV-CASH\/gst-voucher-gstv-cash#:~:text=Enhanced%20cash%20payouts%20up%20to,with%20their%20daily%20living%20expenses.\" target=\"_blank\" rel=\"noopener\">GSTV-Cash program<\/a>.<\/p>\n<p>As for tourism, the sector remains resilient and is expected to rebound in the coming months. We can expect to see more retail sales to happen when it does.<\/p>\n<p>&nbsp;<\/p>\n<h3>Ready to Make a Move?<\/h3>\n<p>With Singapore&#8217;s retail sector set for growth, now is the perfect time to start a company or optimise your business strategies. <a title=\"Contact 3E Accounting\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/contact-us\/\">Contact 3E Accounting<\/a> today to explore our comprehensive <a title=\"Business Advisory Services\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/business-advisory\/\">retail consulting services<\/a> and thrive in 2024!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore\u2019s Retail Sector Has A Bright Outlook for 2024 Experts have an optimistic view of Singapore\u2019s retail sector, predicting that it will bring in a year-on-year increase of 2% for this year. The sector is expected to thrive for the remainder of the year, thanks to the improvement in its external environment and upcoming major&hellip;<\/p>\n","protected":false},"author":57,"featured_media":82130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-82125","post","type-post","status-publish","format-standard","has-post-thumbnail","category-regulatory-and-business","category-68","description-off"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/82125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/comments?post=82125"}],"version-history":[{"count":0,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/82125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media\/82130"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media?parent=82125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/categories?post=82125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/tags?post=82125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}