Singapore retail sales in December decline 3 per cent
Feb 15, 2019
Singapore retail sales in December slipped 3 per cent year on year.
Including motor vehicles in the data, they fell by 6 per cent.
There was a month-on-month decline of 4.1 per cent excluding vehicles, largely due to the online-sales boom driven by Singles Day and Black Friday in November.
Online retailing continues to eat into traditional channels, accounting for 5.5 per cent of total sales in December, which compares favourably with the festivals-driven 6.6 per cent in November.
The main drivers of change in monthly data was a 20.7 per cent slump in motor vehicle sales, and a 16.8 per cent fall in sales of computer and telecommunications equipment, largely down to new product releases in December 2017.
Singapore retail sales in December of recreational goods, watches and jewellery and furniture and household equipment decreased between 3.9 per cent and 5.8 per cent. Statistics Singapore attributed that to lower demand for sporting goods, jewellery and furniture. Conversely, sales of medical goods and toiletries increased 1.8 per cent.
Sales of food and beverage services increased 4.5 per cent in December, compared to the same month last year.
Sales by food caterers, fast-food outlets, restaurants and other eating places (such as cafes) all increased, by between 2.5 per cent and 6.6 per cent year on year.
Robert Stockdill – Inside Retail Asia