Retail sales growth moderates to 11.2% YoY in September
In August, retail sales grew 13.3% YoY.
Retail sales grew 11.2% YoY in September, moderating from the 13.3% increase in August. This translates to a sales value of $3.8b.
Of the total sales value, 12.5% was from online sales.
Excluding motor vehicles which saw a 20.2% YoY drop in September, total retail sales would have been up by 16.8% YoY, data from the Department of Statistics Singapore (Singstat) showed.
Singstat attributed the year-on-year increase in retail sales to larger growths in industries such as Wearing Apparel & Footwear (+52.5% YoY), Food & Alcohol (+51.7% YoY), and Watches & Jewellery (+37.1YoY).
Other industries which posted double-digit increases were Department Stores (+35.3% YoY); Cosmetics, Toiletries & Medical Goods (+13.3% YoY); Recreational Goods (+17.0% YoY); Petrol Service Stations (+14.0% YoY); Furniture & Household Equipment (+4.3% YoY); Computer & Telecommunications Equipment (+24.3% YoY).
On the other hand, sales of Supermarkets & Hypermarkets and Mini-marts & Convenience Stores continued to dip in September by 4.5% YoY and 0.7% YoY, respectively.