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Retail sales drop 0.4% YoY in December

Month-on-month, sales fell by 1.5%.

Retail sales fell 0.4% YoY and 1.5% MoM in December, translating to a sales value of $4.7b.

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

Excluding motor vehicles, which saw a 23.8% YoY and 11.3% MoM increase, sales would have fallen further by 2.7% YoY and 3.3% MoM.

The Department of Statistics Singapore (Singstat) said most industries recorded a YoY decline in sales, resulting in an overall drop in retail sales. 

In December, sales of recreational goods fell 11.8% 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 December include Department Stores (-5.8% YoY); Cosmetics, Toiletries & Medical Goods (-0.1% YoY); Supermarkets and Hypermarkets (-2.9% YoY); Furniture & Household Equipment (-8.5% YoY); Optical Goods & Books (-11.8% YoY); Wearing Apparel & Footwear (-6.2% YoY); Mini-marts & Convenience Stores (-8.2% YoY);  and Petrol Service Stations (-3.8% YoY)

On the other hand, Food & Alcohol (+4.4% YoY); Watches & Jewellery (+6.0% YoY); Computer & Telecommunications Equipment (-1.0% YoY) recorded an increase in sales.

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