Singapore retail sales show first signs of retail recovery
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Singapore retail sales rebounded in July as social-distancing rules were relaxed, but there was still a year-on-year decline of 7.7 percent, excluding motor vehicle sales. That was significantly better than June’s fall of 24.2 percent and May’s 52 percent.
Month on month, seasonally adjusted retail sales increased by 19.5 percent.
Online retail sales comprised about 11 percent of the monthly total, accounting for 49.1 percent of computer and phone sales, 21.8 percent of furniture and household equipment, and 11.4 percent of supermarket sales.
In July, sales in department stores and of apparel, footwear and jewelry and watches declined by between 21 percent and 32.1 percent year on year, with those categories most affected by low tourist arrivals due to Covid-19 restricting international travel.
In contrast, sales in supermarkets rose by 28.6 percent, and of computers and phones by 27.4 percent.
Food and beverage services turnover fell by 25.4 percent, which was an improvement over June’s decline of 43.6 percent. Statistics Singapore says sales of food and beverage services reached US$486.9 million for the month, with online orders accounting for 21.1 percent of that.
Questions & Answers
Q.What was the overall change in Singapore's retail sales for July compared to the previous year, excluding motor vehicles?
What was the overall change in Singapore's retail sales for July compared to the previous year, excluding motor vehicles?
Singapore's retail sales, excluding motor vehicle sales, saw a year-on-year decline of 7.7 percent in July. This was a notable improvement compared to the steeper falls recorded in both June and May.
Q.Which retail sectors experienced the largest year-on-year declines in July, and why were they affected?
Which retail sectors experienced the largest year-on-year declines in July, and why were they affected?
Department stores, apparel, footwear, jewelry, and watch sales declined by 21 to 32.1 percent year-on-year. These categories were most affected by low tourist arrivals due to ongoing international travel restrictions caused by Covid-19.
Q.What percentage of overall retail sales did online purchases account for in July?
What percentage of overall retail sales did online purchases account for in July?
Online retail sales comprised approximately 11 percent of the total monthly retail sales in July. They accounted for a significant portion of computer and phone sales, and furniture and household equipment sales.
Q.How did food and beverage services perform in July, and what was the contribution of online orders to this sector?
How did food and beverage services perform in July, and what was the contribution of online orders to this sector?
Food and beverage services turnover fell by 25.4 percent in July, which was an improvement over June's decline. Online orders contributed 21.1 percent to the sector's total sales of US$486.9 million for the month.
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