October Singapore retail sales static
In this article (5)
October Singapore retail sales inched up by 0.5 per cent year on year, after excluding motor vehicle sales from the data.
Month-on-month they fell by 2.1 per cent, reaching S$3.7 billion (US$2.69 billion).
Online retail sales breached the 5 per cent threshold of total retail sales at 5.3 per cent for October.
By category, sales by petrol stations soared the most, up 11.4 per cent year on year, however when the effects of price changes was removed from the data, the increase was a more moderate 1.5 per cent.
Sales of medical goods and toiletries rose 3.4 per cent on the back of cosmetics, with furniture and homewares up 1.5 per cent.
In contrast, sales in department stores and supermarkets decreased 3.6 per cent and 2.9 per cent respectively. Retailers of optical goods and books and recreational goods declined by 1.9 per cent and 1.8 per cent.
Sales of food and beverage services rose 1.1 per cent, with food caterers recording a 5.6 per cent increase in turnover, other eating places (such as cafes) improving by 3.8 per cent, and fast-food outlets by 3.2 per cent.
Restaurant turnover, however, was down 3 per cent.
Questions & Answers
Q.What was the total value of retail sales in Singapore for October?
What was the total value of retail sales in Singapore for October?
The total value of retail sales for October reached S$3.7 billion, which converts to approximately US$2.69 billion. This figure represents a 2.1 per cent fall compared to the previous month.
Q.Which retail categories saw the biggest increases in sales during October?
Which retail categories saw the biggest increases in sales during October?
Petrol stations recorded the largest increase, with sales up 11.4 per cent year on year. Medical goods and toiletries also rose by 3.4 per cent, driven by cosmetics sales.
Q.How did online retail perform compared to overall sales in October?
How did online retail perform compared to overall sales in October?
Online retail sales accounted for 5.3 per cent of total retail sales for October, exceeding the 5 per cent threshold. This indicates a growing contribution from e-commerce to the overall retail landscape.
Q.Were there any parts of the food and beverage sector that saw a decrease in sales?
Were there any parts of the food and beverage sector that saw a decrease in sales?
While food and beverage services as a whole rose by 1.1 per cent, restaurant turnover specifically experienced a 3 per cent decrease. This contrasts with increases seen in food caterers and other eating places.
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