, Singapore

Retail sales down 27.8% in June

Department stores saw the largest drop in sales.

Retail sales crashed 27.8% YoY in June, a more relaxed state compared to the 52% YoY decline in May, according to the Department of Statistics (SingStat). Excluding motor vehicles, retail sales fell 24.2%.

On a MoM basis, seasonally adjusted retail sales surged 51.1% in June, or 43.1% excluding motor vehicles. This growth was mainly attributed to the low base in May when physical stores were closed for the entire month during the Circuit Breaker period.

The estimated total retail sales value in June hit $2.6b, where online retail sales account for 18.1% of it. Online retail sales of the computer and telecommunications equipment, furniture and household equipment, and supermarkets and hypermarkets industries made up 69.9%, 45.6% and 10.7% of the total sales of their respective industry.

 

Most retail industries recorded declines. Sales of department stores, the wearing apparel and footwear, and watches and jewellery industries fell between 53.5% and 69.5% YoY in the same month.

Conversely, the supermarkets and hypermarkets, computer and telecommunications equipment, and mini-marts and convenience stores industries registered growths in sales of between 8.7% and 43.4%, thanks to continued demand for groceries and computers from work-from-home arrangements.

Meanwhile, sales of food and beverage (F&B) services plunged 43.5% YoY in June, which slightly relaxed compared to the 50.1% decline in May. On a seasonally adjusted basis, sales of F&B services jumped 18.9% MoM in June with the resumption of dine-in services in Phase Two of re-opening.

The total sales value of F&B services in June was estimated at $496m, where online F&B sales made up 32.7% of it.

 

Within the F&B services sector, all industries recorded YoY declines. Turnover from restaurants and food caterers sunk 59% and 48.1% YoY respectively in the same month. Similarly, cafes, food courts and other eating places, and fast food outlets recorded lower sales of 32.7% and 20.5% YoY respectively during this period.  

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.