Department stores lead Singapore retail sales
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Singapore retail sales rose 2.6 per cent in March, excluding motor vehicles, as the sector’s slow but steady recovery continues.
Month-on-month, retail sales rose 1.1 per cent.
The headline figure – which includes motor vehicles – showed a year-on-year decline of 1.5 per cent as car sales in the city state slumped 16 per cent.
According to Statistics Singapore, retail spending (including vehicles) totalled S$3.8 billion in March, with e-commerce accounting for 4.1 per cent of that.
Department stores were the big winners of the month, with sales up 9.1 per cent, while food retailers also performed well, up 7.5 per cent. Sales of medical goods and toiletries rose 6.2 per cent and of apparel and footwear, and watches and jewellery, by 5 per cent.
Sales of phones and computer equipment fell by 8 per cent.
In the foodservice sector, sales of food and beverage rose 3.6 per cent to an estimated $716 million, led by fast-food outlets, up 16.1 per cent.
Questions & Answers
Q.What was the total value of retail spending in Singapore during March?
What was the total value of retail spending in Singapore during March?
Retail spending, including motor vehicles, reached S$3.8 billion in March. E-commerce contributed 4.1 per cent to this total figure for the month.
Q.Which retail sectors experienced a decline in sales during March?
Which retail sectors experienced a decline in sales during March?
Sales of phones and computer equipment saw a decline of 8 per cent. The overall retail sales figure, including motor vehicles, also showed a year-on-year drop due to a slump in car sales.
Q.How did the food and beverage sector perform in March?
How did the food and beverage sector perform in March?
The food and beverage sector recorded a 3.6 per cent increase in sales, reaching an estimated $716 million. Fast-food outlets were the main drivers of this growth, with sales up 16.1 per cent.