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Singapore retail sales up 11.2% in September, extending August’s growth

  • Nov 04, 2022

SINGAPORE’S retail sales continued to increase on year in September, while marking growth on a seasonally adjusted monthly basis and reversing from the decline seen in August, according to the latest figures from the Department of Statistics (Singstat) on Friday (Nov 4).

Total retail sales went up by 11.2 per cent year on year in September, extending the revised 13.3 per cent rise in the previous month. On a month-on-month seasonally adjusted basis, retail sales were also up 3.3 per cent, reversing from a 1.2 per cent fall in August.

The estimated total retail sales value for September was S$3.8 billion, with online sales accounting for 13.8 per cent, against 12.5 per cent in the month before.

Excluding motor vehicles, retail sales expanded by 16.8 per cent from a year ago, and 4.2 per cent from the previous month, on a seasonally adjusted basis.

Sales rose year on year across almost all categories:

  • Department stores (35.3 per cent)
  • Food and alcohol (51.7 per cent)
  • Petrol service stations (14 per cent)
  • Cosmetics, toiletries and medical goods (13.3 per cent)
  • Wearing apparel and footwear (52.5 per cent)
  • Furniture and household equipment (4.3 per cent)
  • Recreational goods (17 per cent)
  • Watches and jewellery (37.1 per cent)
  • Computer and telecommunications equipment (24.3 per cent)
  • Optical goods and books (9.2 per cent)
  • Others (18 per cent)

The exceptions were:

  • Supermarkets and hypermarkets (-4.5 per cent)
  • Mini-marts and convenience stores (-0.7 per cent)
  • Motor vehicles (-20.2 per cent)

Growth in wearing apparel and footwear was partly attributed to higher demand for bags and footwear, while the fall in motor vehicles corresponded to a lower Certificate of Entitlement quota this year, said Singstat.

On a month-on-month seasonally adjusted basis, a majority of retail categories recorded sales growth. Sales declined for four categories: department stores, motor vehicles, furniture and household equipment, and optical goods and books.

Meanwhile, food and beverage (F&B) services saw sales rise 29.7 per cent year on year and 1 per cent on a monthly seasonally adjusted basis. The large growth in F&B sales was mainly attributed to the low year-ago base, when there were stricter dining-in restrictions at F&B establishments, Singstat said.

All segments saw growth from the year-ago period in September:

  • Restaurants (36.9 per cent)
  • Fast food outlets (19.8 per cent)
  • Food caterers (135.2 per cent)
  • Cafes, food courts and other eating places (16.9 per cent)

Total F&B services receipts were S$915 million, with online F&B sales accounting for an estimated 24.4 per cent, compared with 25.8 per cent in August.

Source: https://www.businesstimes.com.sg/government-economy/singapore-retail-sales-up-112-in-september-extending-augusts-growth