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Singapore retail sales fall 3.6% in December, with declines in most industries
RETAIL sales fell 3.6 per cent in December 2020 on a year-on-year (y-o-y) basis, with most industries recording declines as they remain affected by low visitor arrivals, according to the Singapore Department of Statistics (Singstat) on Thursday.
This was a larger decline compared to the 1.7 per cent y-o-y decline in November, though gentler than the y-o-y declines seen in October (-8.5 per cent) and September (-10.7 per cent). Excluding motor vehicles, y-o-y retail sales decreased by 4.5 per cent, compared to the 2.8 per cent decline in November.
Most retail industries continue to register y-o-y declines, led by cosmetics, toiletries and medical goods (-35.4 per cent), department stores (-28.7 per cent) and wearing apparel and footwear (-22.8 per cent). These continue to remain affected by low visitor arrivals, said Singstat.
But some industries saw y-o-y sales growth, with supermarkets and hypermarkets (+25.3 per cent), computer and telecommunications equipment (+24.8 per cent) and furniture and household equipment (+20.8 per cent) benefiting from higher sales of groceries, mobile phones and household appliances respectively. Sales in recreational goods also picked up by 10.3 per cent, with higher demand for sporting equipment.
On a seasonally adjusted month-on-month (m-o-m) basis, retail sales fell 0.9 per cent in December (or by 0.7 per cent, with motor vehicles excluded) over the previous month.
Most retail industries recorded m-o-m declines in sales, due in part to higher sales in November from Singles’ Day and Black Friday events, said Singstat. In contrast, petrol service stations (+7.8 per cent), supermarkets and hypermarkets (+4.8 per cent), and mini-marts and convenience stores (+4.7 per cent) experienced higher sales.
Food and beverage (F&B) sales fell 16.5 per cent in December on a y-o-y basis, representing an improvement compared to the 22.4 per cent decline in November. Food caterers’ turnover declined 73.6 per cent y-o-y, with demand for event catering remaining low. Y-o-y declines were also recorded by restaurants and cafes (-17.2 per cent), as well as food courts and other eating places (-4.9 per cent). Sales at fast-food outlets rose 2.5 per cent.
On a seasonally adjusted m-o-m basis, however, F&B sales increased 7.5 per cent over November. All F&B services industries registered m-o-m growth in sales of between 4.6 and 10 per cent in December, attributed to higher domestic spending amid restrictions on overseas travel.
Total retail sales value in December amounted to about S$4 billion, of which online sales made up about 11 per cent. Excluding motor vehicles, retail sales value amounted to about S$3.5 billion, with a higher proportion of online sales at 12.6 per cent. The total sales value of F&B services in December was estimated at S$800 million, with online F&B sales making up 19.9 per cent, higher than November’s 19.3 per cent figure.
Source: https://www.businesstimes.com.sg/government-economy/singapore-retail-sales-fall-36-in-december-with-declines-in-most-industries