Retail sales climb 4.0% YoY in August

Month-on-month, sales improved by 1.7%.

Retail sales grew 4.0% YoY and 1.7% MoM in August, translating to a sales value of $4b.

Of the total sales value, 12.2% was from online sales.

Excluding motor vehicles, which saw a 6.4% YoY increase, sales would’ve increased by 3.7% YoY and 1.9% MoM.

Department of Statistics Singapore (Singstat) attributed the year-on-year uptick to increases in sales of most industries.

Apart from motor vehicles, industries which recorded a sales increase in August include Food & Alcohol (+24.1% YoY); Cosmetics, Toiletries &  Medical Goods (+6.5% YoY); Optical Goods & Books (+0.7% YoY); Supermarkets and Hypermarkets (+1.1% YoY); Wearing Apparel & Footwear (+6.7% YoY); Watches & Jewellery (+6.4% YoY); Mini-marts & Convenience Stores (+8.8% YoY); and Computer & Telecommunications Equipment (+7.9% YoY). 

On the other hand, Department Stores (-5.2% YoY),  Furniture & Household Equipment (-0.8% YoY); and Petrol Service Stations (-2.7% YoY) recorded a decline in sales.