Questions about the retail sector answered:
- What is Singapore’s retail sector?
- Is the retail sector stable if you’re considering a mid-career switch?
- What kind of jobs are there in the retail sector?
- What’s the salary like?
- What are the growth areas in the retail sector?
- What courses or skills are needed to join the retail sector?
About Singapore’s retail sector
Singapore is at the forefront of global lifestyle demands. Coupled with having the best business environment in the world, the country is fertile ground for both local and global companies to set up shop and operate. Key sub-sectors within the retail sector are as follows:
- Fashion and sporting goods
- Furniture and furnishings
- Supermarkets and convenience stores
- Department stores
- Consumer electronics
Size of the market
Known as the retail hub of Southeast Asia, Singapore boasts a highly sophisticated retail market that draws consumers both from the local and tourist markets. According to the Ministry of Trade and Industry, the retail sector boasts over 29,000 establishments with a workforce that makes up approximately 3% of total employment in Singapore.
Why is this sector important to Singapore’s economy?
According to the Ministry of Trade and Industry, the retail sector contributes nearly 1.4% of GDP making it a key sector for Singapore. Retail supports various other sectors such as logistics, supply chain management, marketing, and manufacturing. The interconnectedness of retail with these sectors means that its health has a ripple effect on broader economic performance.
Looking for a new role? Explore over 100,000 jobs available on MyCareersFuture now!
Growth areas and outlook of the retail sector
The emergence of COVID-19 changed consumer experiences and the need to transition from brick-and-mortar stores to e-commerce. While challenging, the retail sector stands to gain by adapting to the omnichannel approach, capitalising on new growth prospects and remaining globally competitive.
Growth of e-commerce
While offline shopping channels have recovered post-Covid-19, online channels remain important platforms for consumers in Singapore. According to a report released by Facebook parent Meta and Bain & Company, e-commerce sales in Singapore are expected to reach $19.6 billion by 2027.
According to the retail sales index by the Singapore Retailers Association (SRA), on a year-on-year basis, retail sales increased 3.6% in April 2023, following a 4.5% increase in March 2023. The estimated total retail sales value in April 2023 was $3.9 billion. Of this, online retail sales made up an estimated 12%.
Economists are expecting further growth in retail sales boosted by the tourism sector.
Emergence of automation and data analytics
Automation technologies are becoming essential in retail sector roles. Digital tools such as self-checkout systems and AI-driven customer service bots enhance operational efficiency and the customer experience. At the same time, data analytics deliver vital insights into customer behaviour and preferences, allowing retailers to provide personalised services and make more informed business decisions.
Retail Industry Transformation Map
Led by Enterprise Singapore (EnterpriseSG) in partnership with key industry players, unions and other government agencies, including the Economic Development Board (EDB), Singapore Tourism Board (STB), SkillsFuture Singapore (SSG) and Workforce Singapore (WSG), the Retail Industry Transformation Map (ITM) 2025 was launched in 2022.
The new ITM would focus on creating a core of international Singapore brands and improving the standard of employment in the industry, with a focus on enhancing Singapore as a global lifestyle and retail hub, anchored with new experiential concepts and innovative products.
Mid-career switch: Why is the retail sector a good choice?
With the rise in consumer demands and digital transformation, job opportunities are aplenty in Singapore’s retail sector. Kenneth Wong, director of the Trade and Lifestyle Division at WSG, shares: “The industry is very diverse; it has got many different business models, and the way they service their customers is also very different. So now we’ve gone into digital, and we’ve also gone into omni channels.”
The evolution and expansion also mean good news for the jobs market. With the rise of e-commerce, plenty of jobs are emerging in the retail sector. Kenneth shares:
“There’s a lot of different opportunities for the workforce so it depends on what makes sense for the employers and also what would interest the jobseekers and the workers.”
Types of jobs and what is the salary like in the retail sector?
Contrary to popular belief, the employment landscape in Singapore’s retail sector today extends beyond the typical sphere of sales-focused roles such as retail assistants and cashiers. With the rise of e-commerce, specialised roles in the digital domain are in demand.
The emerging retail sector job opportunities predominantly fall into two fundamental areas of expertise: customer-centric roles and roles focused on technological innovation. As the retail sector turns up the recruitment volume, job opportunities abound. Here are some examples listed on the MyCareersFuture jobs portal:
| Role | Salary Range |
| Retail Associate | $1,800 to $2,800 |
| Merchandiser | $2,200 to $2,700 |
| Market Research Associate | $2,500 to $4,600 |
| Digital Marketing Executive | $2,700 to $4,700 |
| Brand Executive | $2.800 to $4,500 |
| Area Manager | $3,800 to $5,500 |
| Distribution Analyst | $4,000 to $6,000 |
| Customer Service Manager | $4,100 to $6,500 |
| Data Analyst | $4,500 to $7,000 |
| Sales & Marketing Manager | $4,900 to $9,500 |
What courses or skills are needed to join the retail sector?
Jobseekers or mid-career switchers keen on joining the sustainability sector can up their chances of landing a job by registering for the WSG Career Conversion Programme (CCP) with On-the-Job Training for the following job roles in retail:
- Retail: CCP for Retail Industry – with LHub (RnF New Hires)
- Retail: CCP for Retail Industry – with SIRS (PMET New Hires)
- Retail: CCP for Retail Industry – with SIRS (RnF New Hires)
- Retail: CCP for Retail Industry – with SRA (PMET New Hires)
- Retail: CCP for Retail Industry – with SRA (RnF New Hires)
If you need professional advice on navigating your career journey to the sustainability sector, register here to speak to a career coach! Here are some useful reads to help you learn more about the sector.
6 Ways to Brush Up Your Customer Service Skills
6 Transferable Skills From Retail to E-commerce
IT Skills That Will Help Your E-commerce Career Soar
3 Must-Learn Skills for Successful SME E-Commerce Employment
Explore Singapore’s e-Commerce Industry: Entry-Level Jobs to Apply for
