Singapore’s retail sector moved into contraction at the start of 2026, with year-over-year sales declining in January after posting solid growth in the previous month. According to data updated on 5 March 2026, retail sales fell 0.4% in January 2026 compared with January 2025, on a year-over-year basis.
This marks a reversal from December 2025, when retail sales had grown 2.5% year-over-year. The figures are calculated as a comparison of each month’s performance against the same month a year earlier, highlighting a clear loss of momentum as the new year began. Investors and analysts will be watching upcoming releases closely to determine whether January’s dip signals a temporary correction or the start of a softer trend in consumer spending in Singapore.
