F&B sales inched up in December: report

On a month-on-month basis, however, F&B sales declined by 2.2% (seasonally adjusted).

Food and beverage (F&B) sales in Singapore grew by 1% YoY in December 2024, marking a slowdown compared to the 4% YoY increase in November.

On a month-on-month (MoM) basis, however, F&B sales declined by 2.2% (seasonally adjusted). The total F&B sales value for December was estimated at $1b, with 24.8% of transactions conducted online, nearly unchanged from the 24.7% recorded in November.

Amongst different F&B sectors, Food Caterers recorded the strongest YoY growth at 16.7%, continuing their upward momentum. Fast Food Outlets saw a modest YoY increase of 1.4%, whilst Restaurants grew by 0.2%.

In contrast, Cafes, Food Courts & Other Eating Places experienced a 2.7% decline YoY, making it the only segment to register negative annual growth.

On a MoM basis (seasonally adjusted), most F&B categories saw declines. Cafes, Food Courts & Other Eating Places recorded the largest drop at 3.7%, followed by Food Caterers, which fell by 3.3%. Restaurants also declined by 1.5% from November.

However, Fast Food Outlets were the only category to show MoM growth, rising by 0.8%, indicating relatively stable consumer demand in that segment.