Singapore’s retail ownership data sparks debate about foreign chains’ influence

New data released by Singapore’s Trade Minister shows that 89.7% of registered retail businesses are owned by Singapore residents, with Chinese nationals accounting for about 3% of entities. The figures span sectors such as food and beverage, commerce, supermarkets and pharmacies, and have stimulated public discussion about what these ownership proportions mean for the local retail landscape.

While the statistics show a strong local presence, many foreign retail chains - though few in number - have high visibility in key consumer areas, leading some observers to suggest that public perception of foreign influence may be greater than the raw percentages indicate.

Assoc Prof Laavanya Kathiravelu from our Sociology Programme, highlights that Singaporeans were likely to get used to an increasing diversity of businesses due to their exposure to a globalised retail landscape.

But she warned that unhappiness among some Singaporeans over levels of immigration and naturalisation could affect consumer sentiment and be directed towards foreign-owned businesses and brands.

Click here to read the full discussion in SCMP.