Chart of the Day: Online sales events boost November retail sales
Online sales events reach $3.6b.
This chart from Knight Frank showed that retail sales in November increased, with year-end online sales events such as 11.11, Black Friday and Cyber Monday, accounting for a total of $3.6b.
The share of online retail sales during the month increased by two percentage points month-on-month to reach 16.5%, as retailers attracted consumers with price discounts and brand promotions
Singapore saw its tourist footfall increase to almost 2.6 million in the last three months of 2022 which supported local retail said. In October, the retail sales value excluding motor vehicles reached $3.6b.
The Food & Alcohol, Wearing Apparel & Footwear, and Department Stores segments led the retail sales in October and November.