Singapore retail sales slip

Posted Date: 22/02/2013

By InsideRetail.Asia

Sales food and beverage (F&B) in Singapore rose year on year, but the rest of the city state’s retail market was in a state of flux according to data from the Department of Statistics Singapore (SingStat).
Singapore company formation specialist Rikvin views the year-on-year sales performances as indicators of which retail sectors could be hiring.
Overall, the F&B sector enjoyed a 2.6 per cent year-on-year increase in sales between December 2011 and 2012. Over the period, food caterers, restaurants and other eating places enjoyed 4.5 per cent, three per cent and 2.8 per cent increase in receipts respectively. Fast food outlets recorded a 0.8 per cent fall over the same period.
Meanwhile, in total, the retail sector contracted by 1.5 per cent year-on-year. Excluding motor vehicle sales, the retail sector contracted by 0.4 per cent on an annual basis.
On a year-on-year basis, retailers of food and beverages and supermarkets recorded 6.3 per cent and 7.3 per cent change in sales between December 2011 and December 2012, representing the biggest increase in sales at current prices between that period. Over the same period, sales in medical goods and toiletries (4.1 per cent), watches and jewellery (3.2 per cent), furniture and household equipment (1.9 per cent) and provision and sundry shops (1.8 per cent) also performed positively.
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