, Singapore
Photo by Galen Crout on Unsplash

Retail sales drop 0.1% YoY in October

Month-on-month, sales fell by 0.8%.

Retail sales fell 0.1% YoY and 0.9 % MoM in October, translating to a sales value of $4.0b.

Of the total sales value, 13.1% was from online sales.

Excluding motor vehicles, which saw an 8.3% YoY and 2.9% MoM increase, sales would have fallen further by 1.0% YoY and 1.3% MoM.

Department of Statistics Singapore (Singstat) attributed the year-on-year decline in sales to lower demand for sporting goods.

In October, sales of recreational goods fell 8.1% YoY, making it the industry with the biggest drop in sales.

Apart from recreational goods, industries which recorded a year-on-year sales decrease in October include Department Stores (-0.6% YoY); Cosmetics, Toiletries & Medical Goods (-2.5% YoY); Supermarkets and Hypermarkets (-3.2% YoY); Furniture & Household Equipment (-7.5% YoY); Computer & Telecommunications Equipment (-1.0% YoY).

Food & Alcohol (+22.6% YoY); Cosmetics, Toiletries & Medical Goods (+10.3% YoY); Optical Goods & Books (+4.2% YoY); Supermarkets and Hypermarkets (+1.5% YoY) Wearing Apparel & Footwear (+8.1% YoY); and Mini-marts & Convenience Stores (+4.8% YoY); 

On the other hand, Food & Alcohol (+22.0% YoY); Optical Goods & Books (+0.5% YoY); Wearing Apparel & Footwear (+1.6% YoY); Mini-marts & Convenience Stores (+1.3% YoY); Petrol Service Stations (+1.6% YoY) recorded an increase in sales.

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