Retail sales decline 0.7% YoY in November as key sectors show mixed performance

Excluding motor vehicles, sales would slip further by 1.4% YoY.

Retail sales dipped 0.7% YoY and 2.8% MoM in November, translating to a sales value of $4.1b.

Of the total sales value, 14.6% was from online sales.

Excluding motor vehicles, overall sales would drop by 1.4% compared to the previous year and by 2.1% from October.

Motor vehicle sales increased 5.0% YoY but fell 7.7% MoM.

The Department of Statistics Singapore (SingStat) said industries’ performance was “mixed” in November, with Department Stores (-3.76% YoY), Optical Goods & Books (-4.09% YoY), Wearing Apparel & Footwear (-3.8% YoY), Mini-marts & Convenience Stores (-8.6% YoY), Petrol Service Stations (-5.4% YoY), and Computer & Telecommunications Equipment (-11.0 YoY) posting declines.

Meanwhile, sales increased for Food & Alcohol (5.6% YoY), Cosmetics, Toiletries & Medical Goods (1.7% YoY), Recreational Goods (2.7% YoY), Supermarkets & Hypermarkets  (2.0% YoY), Watches & Jewellery (2.2% YoY), and Furniture & Household Equipment  (1.9% YoY).