Singapore retail sales see softer decline in July
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Singapore retail sales dropped 2.3 percent in July after motor vehicles were excluded from the data, compared with the 3.1 percent decline in June.
According to the Department of Statistics, the estimated total retail sales value in July was SG$3.4 billion (US$2.6 billion), of which 14 per cent came from online.
On a seasonally adjusted basis, retail sales increased 0.5 percent month on month.
The department stores and wearing apparel and footwear industries led the decline, with sales down 11.2 percent and 10.3 percent, respectively. Sales of optical goods and books fell 8.7 percent, mainly due to lower book demand.
Meanwhile, the petrol service stations, food and alcohol, supermarkets and hypermarkets, and watches and jewelry industries recorded sales growths of between 0.8 percent and 4.7 percent.
Sales of food and beverage services edged up 0.2 percent in July following a 1.9 percent increase in June.
The total sales value of F&B services in July was SG$989 million, of which 23.8 per cent were from online.
Questions & Answers
Q.What was the overall value of retail sales in Singapore for July?
What was the overall value of retail sales in Singapore for July?
The estimated total retail sales value in July was SG$3.4 billion, which equates to US$2.6 billion. Online sales contributed 14 percent to this overall figure.
Q.Which retail sectors experienced the most significant declines in July?
Which retail sectors experienced the most significant declines in July?
The department stores industry saw an 11.2 percent decline, while wearing apparel and footwear sales fell by 10.3 percent. Sales of optical goods and books also dropped by 8.7 percent.
Q.Which retail sectors recorded sales growth in July?
Which retail sectors recorded sales growth in July?
Petrol service stations, food and alcohol, supermarkets and hypermarkets, and watches and jewelry industries all saw sales growth. These increases ranged from 0.8 percent to 4.7 percent.
Q.How much of the food and beverage sales in July came from online orders?
How much of the food and beverage sales in July came from online orders?
The total sales value for food and beverage services in July was SG$989 million. Of this amount, 23.8 percent was generated through online sales channels.
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