Retail sales in Singapore continued their upward trajectory in September, albeit at a slower rate than in August.
In September, retail sales, excluding motor vehicles, rose by 2 per cent. This is a slight dip compared to the 4.7 per cent increase witnessed in August. The total value of retail sales for September was estimated at SG$3.5 billion ($2.67 billion USD), with online sales accounting for 17.6 per cent of that figure. However, on a seasonally adjusted basis, retail sales in September saw a decline of 2.3 per cent when compared to August.
The watches and jewellery sector remained at the forefront of sales growth in September with a substantial year-on-year increase of 16.6 per cent. This growth was primarily fueled by a surge in jewellery sales. The recreational goods sector trailed behind in second place with an 11 per cent increase, followed by supermarkets and hypermarkets, which saw a 5.1 per cent rise.
On the other hand, petrol service stations and retailers of clothing and footwear saw a drop in sales by 8 per cent and 3.6 per cent respectively. The food and beverage services also experienced a decline, with sales slipping by 1.6 per cent, a steep fall from the 0.2 per cent decrease reported in the previous month. This slump was largely attributed to the underperformance of the restaurant sector.
The overall sales value of food and beverage services was estimated at SG$966 million, with online sales representing 26.3 per cent.
Q: How did the retail sector perform in Singapore in September?
A: Retail sales, excluding motor vehicles, rose by 2 per cent in September, a slower pace compared to the 4.7 per cent increase in August.
Q: What sectors led the growth in retail sales in September?
A: The watches and jewellery sector led the growth with a 16.6 per cent year-on-year increase, followed by the recreational goods sector and supermarkets and hypermarkets.
Q: Which sectors experienced a decline in sales in September?
A: Petrol service stations and clothing and footwear retailers saw a decrease in sales, with declines of 8 per cent and 3.6 per cent respectively. The food and beverage services sector also experienced a drop in sales, declining by 1.6 per cent.
