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SINGAPORE
 
RETAIL MARKET
  
Singapore's retail sales increased in June 2006 for the 16th straight month as a strengthening labor market and rising tourist arrivals spurred consumer spending. The retail sales index rose 5.1 percent from a year earlier after gaining 13.1 percent in May, the Statistics Department.
 
Business practice in the Singaporean retailing industry has changed significantly in recent years. Retailers are becoming more sophisticated in their marketing strategies. At the same time, the growth of category management in recent years has changed the way retailers view and manage their business. This process is designed to grow categories by attracting new customers and increasing loyalty amongst existing shoppers via efficient ranging, promotions, shelf management and replenishment.
 
 
 
KEY STATISTICS
 
Population: 4,492,150 (July 2006 est.)
 
Age structure:
0-14 years: 15.6% (male 362,329/female 337,964)
15-64 years: 76.1% (male 1,666,709/female 1,750,736)
65 years and over: 8.3% (male 165,823/female 208,589) (2006 est.)
 
Population growth rate: 1.42% (2006 est.)
 
GDP (purchasing power parity): $124.3 billion (2005 est.)
GDP - per capita (PPP): $28,100 (2005 est.)
 
Unemployment rate: 3.1% (2005 est.)
 







 
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