Singapore retail sales growth halts in August

Singapore retail sales growth – excluding motor vehicles – remained static in August, following July’s 2-per-cent increase.

Of the estimated $2.9 billion in retail sales (excluding vehicles), online sales accounted for 16.4 percent, a similar proportion as in July. By category, the strongest online was computer & telecommunications equipment, with 56.5 percent of turnover online rather than in-store. Online accounted for 31.5 percent of furniture & household goods sales and 14 percent of supermarkets & hypermarkets.

In terms of overall category sales, most sectors recorded year-on-year declines in sales during August. Optical goods & books were worst affected – down by 9.6 percent – followed by department store turnover, down by 8.5 percent.  Sales through petrol service stations and of watches & jewelry rose by 23.7 percent and 7.9 percent respectively, driven by higher petrol prices and greater demand for watches, said Statistics Singapore.

Meanwhile, sales of food & beverage services fell 6.7 percent in August compared to the 6-per-cent decline in July, due mainly to stricter dine-in restrictions this year.