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Supermarkets poised to be key beneficiaries of rising consumer sentiment

Stanislaus Jude Chan
Stanislaus Jude Chan5/31/2018 11:42 AM GMT+08  • 3 min read
Supermarkets poised to be key beneficiaries of rising consumer sentiment
SINGAPORE (May 31): CGS-CIMB Securities is upgrading Singapore’s consumer staples sector to “overweight”, from “neutral” previously, on the back of expectations of improving retail sales.
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SINGAPORE (May 31): CGS-CIMB Securities is upgrading Singapore’s consumer staples sector to “overweight”, from “neutral” previously, on the back of expectations of improving retail sales.

Continuing from a 1.8% growth last year, Singapore’s retail sales index (RSI) excluding motor vehicles rose 2.6% in Mar 2018.

“The RSI typically tracks the GDP growth rate, and given our in-house GDP growth forecast of 3.2% in 2018F, we believe Singapore’s retail sales are on a better footing in 2018F,” says lead analyst Cezzane See in a report on Wednesday.

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