Singapore Retail Sales Rise 4% in June to S$4.2 Billion as Leisure and Watches Lead
Retail & Consumer | August 6, 2026
Singapore’s retail sales totalled S$4.2 billion in June 2026, up 4% year-on-year and accelerating from 2.9% growth in May. Excluding motor vehicles, sales rose 4.1%. Leisure goods, watches and jewellery, and computers and communications equipment were the standout performers, though department stores continued to struggle with a 9.5% year-on-year decline.
Total Retail Sales
YoY Growth
Online Share
Leisure Goods
Discretionary Spending Drives Broader Gains
June’s 4% year-on-year growth was powered by strong performance across discretionary categories. Leisure goods led all segments with an 11.4% increase, followed by watches and jewellery at 10.5% and computers and communications equipment at 9.8%.
OCBC economist Gan Sheng Yuan noted that both non-essential and semi-essential categories recorded growth, pointing to healthy underlying consumer demand. On a month-on-month basis, UOB economist Xu Jun Jie observed that June retail sales rose about 1% sequentially, with the auto sector the primary driver of the monthly uptick.
Online sales accounted for 16.4% of total retail turnover, reflecting the continued structural shift toward e-commerce.
Department Stores Drag While Most Categories Gain
Department stores remained the weakest link, posting a 9.5% year-on-year decline as the sector continues to face structural challenges from e-commerce competition and changing consumer habits.
Despite the headline improvement, economists flagged emerging headwinds for the second half of the year. Q2 retrenchments rose from 3,830 to 4,500, signalling that the labour market is beginning to soften. Geopolitical uncertainty and inflation risks also cloud the outlook.
DBS economist Cai Han Ting nonetheless struck a cautiously optimistic tone, noting that stable employment conditions and major events and activities should continue to support retail spending, even as inflationary pressures persist.
H2 Outlook: Momentum Set to Moderate
While June’s numbers were encouraging, analysts expect retail growth to moderate in the second half of 2026. Key risks include geopolitical uncertainty stemming from ongoing trade tensions, a gradual slowdown in the labour market, and the potential for imported inflation to weigh on consumer purchasing power.
The combination of rising retrenchments and external headwinds suggests that the consumer spending environment will become more challenging, though the strong services sector and tourism-driven demand should provide a partial buffer.
Frequently Asked Questions
How much did Singapore retail sales grow in June 2026?
Total retail sales reached S$4.2 billion in June 2026, rising 4% year-on-year, up from 2.9% growth in May. Excluding motor vehicles, sales grew 4.1%.
Which retail categories performed best in June 2026?
Leisure goods led with 11.4% year-on-year growth, followed by watches and jewellery at 10.5% and computers and communications equipment at 9.8%. Department stores were the weakest segment, falling 9.5%.
What share of retail sales came from online shopping?
Online sales accounted for 16.4% of total retail turnover in June 2026, reflecting the ongoing structural shift toward e-commerce channels.
What is the outlook for Singapore retail in H2 2026?
Analysts expect retail growth to moderate in the second half due to geopolitical uncertainty, rising retrenchments (Q2 up from 3,830 to 4,500), and inflation risks, though stable employment and major events should provide some support.
Need Guidance on Singapore’s Property Market?
Whether buying, selling, or investing, our team at AsianPrime Properties is here to help you navigate every market cycle with confidence.