Retail sales in Singapore surge as border restrictions relaxed
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Retail sales in Singapore surged 17.4 per cent in April (excluding motor vehicles), faster than the rate of 13.6 per cent in March.
Statistics Singapore said the increase was driven by sales of apparel, food & liquor – up by 46.6 per cent year on year – and improved supermarket turnover.
Retail sales in Singapore, excluding motor vehicles, were estimated at S$3.3 billion (US$2.4 billion) in April, with online retail sales accounting for 14.2 per cent of that. Online sales of computer & telecommunications equipment comprised 48.2 per cent of the category’s turnover, while 28.3 per cent of furniture & household equipment was sold online.
Statistics Singapore said the growth in apparel sales was due to increased demand for bags and footwear, partly fuelled by increased tourist spending as border restrictions were eased. Sales of food & alcohol, in department stores, and of watches & jewellery, increased by between 28.4 and 35.6 per cent.
However, sales at mini-marts & convenience stores fell by 5.5 per cent.
Questions & Answers
Q.What was the total estimated value of retail sales in Singapore for April, excluding motor vehicles?
What was the total estimated value of retail sales in Singapore for April, excluding motor vehicles?
The estimated value of retail sales in Singapore for April, excluding motor vehicles, was S$3.3 billion (US$2.4 billion). Of this total, online retail sales accounted for 14.2 per cent.
Q.Which retail categories saw significant growth in April, and why did apparel sales increase?
Which retail categories saw significant growth in April, and why did apparel sales increase?
Significant growth was seen in apparel, food & liquor, department stores, and watches & jewellery. Apparel sales rose partly due to increased demand for bags and footwear, fuelled by tourist spending as border restrictions eased.
Q.How did the sales performance of mini-marts and convenience stores compare to other sectors in April?
How did the sales performance of mini-marts and convenience stores compare to other sectors in April?
While many sectors saw surges, sales at mini-marts and convenience stores actually fell by 5.5 per cent in April. This contrasts with the overall 17.4 per cent retail sales increase (excluding motor vehicles).