Singapore retail sales growth softens in September
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Singapore retail sales – excluding motor vehicles – were up only 0.5 percent year-on-year in September, a slowdown compared to the 4 per cent increase in August.
According to the Department of Statistics Singapore, the total retail sales value was about US$2.5 billion, down 0.8 percent month over month on a seasonally adjusted basis. Online retail sales accounted for 15.2 percent of total sales value.
By industry, sales of food & alcohol jumped 22.6 percent, followed by toiletries & medical goods (10.3 percent) and apparel & footwear (8.1 per cent).
Retailers of computer & telecommunications equipment and furniture & household equipment recorded declines in sales of 12.7 percent and 4.8 percent, respectively.
Sales of food & beverage services rose 6.9 percent yearly to US$726 million, following the 8.6 percent growth in August. Approximately 23 percent of this came from online sales.
All industries within this sector posted sales growths, led by food caterers with a 24.1 percent increase.
Questions & Answers
Q.What was the total value of retail sales recorded in Singapore for September?
What was the total value of retail sales recorded in Singapore for September?
The total retail sales value for September was approximately US$2.5 billion. This figure represents a 0.8 percent decrease compared to the previous month, when adjusted for seasonal factors.
Q.Which retail sectors experienced the most significant growth in September?
Which retail sectors experienced the most significant growth in September?
Sales of food & alcohol saw the largest increase at 22.6 percent. This was followed by toiletries & medical goods with a 10.3 percent rise, and apparel & footwear, which grew by 8.1 percent.
Q.Were any retail categories reported to have declined in sales during September?
Were any retail categories reported to have declined in sales during September?
Yes, retailers of computer & telecommunications equipment experienced a 12.7 percent decline. Sales of furniture & household equipment also fell, recording a decrease of 4.8 percent for the month.
Q.What proportion of total retail sales in September came from online channels?
What proportion of total retail sales in September came from online channels?
Online retail sales accounted for 15.2 percent of the overall retail sales value. Separately, around 23 percent of the US$726 million in food & beverage services sales came from online orders.
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