Retail sales growth expands to 7.4% YoY in December
In November, retail sales grew 6.5% YoY.
Retail sales grew 7.4% YoY in December, expanding from the 6.5% increase in November. This translates to a sales value of $4.7b.
Of the total sales value, 12.9% was from online sales.
Excluding motor vehicles which saw a 10.3% YoY drop in December, total retail sales would have been up by 9.5% YoY, data from the Department of Statistics Singapore (Singstat) showed.
Singstat attributed the year-on-year increase in retail sales to increases in industries such as Food & Alcohol (+37.4% YoY) and Wearing Apparel & Footwear (+23.0% YoY).
Other industries that saw an increase in sales were Department Stores (+11.0% YoY); Cosmetics, Toiletries & Medical Goods (+16.0% YoY); Recreational Goods (+7.8% YoY); Optical Goods & Books (+2.7% YoY); Watches & Jewellery (+19.9% YoY); Furniture & Household Equipment (+11.0% YoY); Mini-marts & Convenience Stores (+1.9% YoY); and Computer & Telecommunications Equipment (+0.3% YoY).
On the other hand, sales of Supermarkets & Hypermarkets (-2.2% YoY) and Petrol Service Stations (-6.8% YoY) dipped in December.