March 13, 2017
The early timing of Lunar New Year has given Singapore retail sales a boost.
Including or excluding motor vehicles, total Singapore retail sales rose 2 percent in January. However, month-on-month they declined 1.3 per cent on December (excluding cars), reflecting the absence of Christmas trading.
Data from Statistics Singapore shows total retail sales in January were estimated at $4.1 billion, $100 million higher than in January 2016.
After seasonal adjustment, month-on-month retail sales of food & beverages declined 21.5 percent in January and sales through mini-marts & convenience stores, furniture & household equipment, wearing apparel & footwear, recreational goods, medical goods & toiletries and department stores fell between 0.9 per cent and 9.2 per cent.
On the other hand, retail sales of computer & telecommunications equipment, optical goods & books, supermarkets and watches & jewelry rose between 0.6 percent and 8 percent in January.
Compared to January 2016, retail sales of supermarkets and food & beverages rose 13 percent and 12 percent respectively in January. Likewise, retail sales of petrol service stations, medical goods & toiletries, watches & jewelry, wearing apparel & footwear, department stores and computer & telecommunications equipment increased by between 1.2 percent and 7.1 percent.
Conversely, retail sales of furniture & household equipment, optical goods & books, mini-marts & convenience stores and recreational goods decreased between 2.5 percent and 9.7 percent.
Sales of food & beverage services (seasonally adjusted) increased 5.2 percent in January 2017 over the previous month.
Compared to the same period last year, sales of food & beverage services rose 3.5 percent in January 2017.
The total sales value of food & beverage services in January 2017 was estimated at $739 million, higher than the $714 million in January 2016.
Source: Inside Retail AsiaGo Back To News & Events