Fashion
Sales of home-furnishing products in Singapore have more than doubled in the two months spanning February 1 to March 31.
Data from fintech research firm Revolut suggests the 105 percent increase in sales has been brought on by Singaporeans setting up home offices in response to the coronavirus outbreak. Furniture retailers Courts saw growth of 92 percent during the period, whilst competitor Ikea experienced 128-per-cent growth.
Work-at-home arrangements have also seen a rise in sales of stationery and school supplies by 15 percent, while spending on entertainment has increased 55 percent, largely due to purchases of digital goods on platforms such as Steam games (104 percent) and Nintendo (82 percent).
“It is likely that the worldwide coronavirus pandemic has had a significant impact on the increase in online activity and transactions overall,” read a report from the firm, “as many more people find themselves at home”.
Other significant sales data revealed by Revolut shows increases in do-it-yourself spending (44 percent); local e-commerce (35 percent) and in-store transactions (30 percent) in March; and online food delivery (150 percent).
Meanwhile, data from South Korean e-commerce site SSG.com shows that sales of products relating to home entertainment doubled in the first half of February compared to previous months.
Sales of home-interior related products rose more than 40 percent, while home training-related sales rose 35 percent.
SSG.Com, the online shopping unit of retail conglomerate Shinsegae, said sales of products that allow children to make snacks using dough rose by 150 percent, while sales of baking mixes for pancakes, cookies and brownies rose by 152 percent.
Coffee-related appliances such as espresso machines, coffee makers and coffee-bean grinders also gained popularity, with sales rising 74.5 percent and capsule-type coffee rising 25 percent, according to a report in Korea Bizwire.
Meanwhile, sales of “home gardening” products or related products, which allow people to grow plants directly on their veranda also rose by 147.6 percent.
