Chart of the Day: Here's how low Singapore's retail sales dipped in the last 2 years

Even the F&B sector crumbled.

According to Savills, the Christmas festive period lifted December retail sales (excluding motor vehicles) by 0.3% year-on-year (YoY).

However, notwithstanding the Christmas period, discretionary expenditure slowed from September to December, with the latter recording a 6.3% YoY decline in watch and
jewellery sales.

Here's more from Savills:

The F&B sector remained strong for 11 months of the year before flattening in December. The Republic’s economy moderated slightly to a 5.5% YoY growth in the final quarter of 2013.

Unemployment figures are expected to remain similar to Q3/2013’s 1.8% as most companies offer bonus payouts in December, reducing the likelihood of employees changing jobs during this period.

According to flash estimates, the number of international tourist arrivals for Q4/2013 stood at 3.7 million, similar to levels achieved in the same period last year.

From the retailers’ perspective, increasing hiring costs due to tighter labour market conditions and higher workers’ levies continued to be the main obstacle to expansion or even remaining in business.

Retailers have therefore started to automate some services, including the use of tablets to place food orders at Sakae Sushi and robots to assist in food preparation at Ruyi, to reduce their reliance on labour.

However, retail operations still require a high level of human involvement and the existing difficulties experienced in the labour market are hindering retailers’ expansion plans.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia