Singapore’s retail sales up by 1.1% but down by 0.8% m-o-m to $3.8 bil in June

Of this, an estimated 12.7% were from online retail sales, higher than the 11.9% recorded in May.

Singapore’s retail sales grew by 1.1% on a y-o-y basis but fell 0.8% m-o-m to $3.8 billion in June.

Of this, an estimated 12.7% were from online retail sales, higher than the 11.9% recorded in May.

Excluding motor vehicles, retail sales rose 2.5% y-o-y and 0.2% m-o-m to $3.4 billion.

An estimated 14.3% of sales were from online.

During the month, online retail sales of the computer & telecommunications equipment, furniture & household equipment and supermarkets & hypermarkets made up 49.8%, 30.7% and 12.6% of the total sales of their respective industries.

Within the retail sector, most industries saw y-o-y growths led by food & alcohol at 30.7% y-o-y mainly due to higher demand for alcoholic products, including those sold in duty free shops.

Sales from computer & telecommunications equipment and optical goods & books were the second and third-highest growing industries at 9.4% and 8.7% respectively.

Meanwhile, petrol service stations recorded a 24.2% y-o-y decline due partly to lower petrol prices while sales of motor vehicles fell by 8.4% y-o-y.

On a m-o-m basis, recreational goods surged by 13% followed by watches & jewellery at 7.5% while sales of motor vehicles, department stores and furniture & household equipment saw decreases of 9.3%, 4.5% and 3.2% respectively.

Food & beverage services

Sales of food & beverage (F&B) services rose by 7.2% y-o-y but fell by 2.2% m-o-m to $956 million in June. Of this, 23.4% of total sales came from online.

All industries within the F&B sector recorded y-o-y growths led by food caterers and fast food outlets, which rose by 28.9% and 13.4% respectively.

On a m-o-m basis, all sectors – except fast food outlets – fell. Food caterers saw sales fall by 10.6% m-o-m while restaurants fell by 3.8% m-o-m. Cafes, food courts & other eating places fell by 0.1% m-o-m while fast food outlets rose by 1.2%.

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