Singapore Retail Sales Surge: Recreational Goods and Jewellery Take the Lead in June

Retail sales in Singapore experienced increased growth in June, with most sectors seeing improvements, with the most significant ones being recreational goods, watches, and jewelry.

According to the Department of Statistics, retail sales—excluding motor vehicles, parts, and accessories—rose by 4.1 per cent year-on-year in June, which shows an acceleration from the 3.6 per cent increase in May.

Sectoral Breakdown and Online Sales

The estimated total value of retail sales for this period was SG$3.5 billion (US$2.7 billion), with online sales making up 19.5 per cent.

On a seasonally adjusted basis, retail sales in June saw a slight increase of 0.2 per cent compared to May.

In terms of sectors, recreational goods recorded the highest growth with sales shooting up by 11.4 per cent, followed closely by watches and jewelry with a 10.5 per cent rise. These significant increases were mainly driven by higher sales of sporting goods and jewelry.

Other sectors like computer and telecommunications, cosmetics, supermarkets, and petrol service stations also saw solid improvements between 7.3 per cent and 9.8 per cent.

Declining Sectors

Contrastingly, department stores experienced the most significant decline during this period, with a drop of 9.5 per cent. Similarly, sales of apparel and footwear, food and alcohol, and convenience stores also saw decreases ranging from 0.6 per cent to 1.7 per cent.

Sales of food and beverage services also saw a decrease of 2.3 per cent to SG$1.5 billion, a stark contrast to the modest 0.1 per cent growth recorded in May.