, Singapore
Photo by Vuitton Lim on Unsplash

Retail sales growth moderates to 6.2% YoY in November

In October, retail sales grew 10.3% YoY.

Retail sales grew 6.2% YoY in November, moderating from the 10.3% increase in October. This translates to a sales value of $4.0b.

Of the total sales value, 14.5% was from online sales.

Excluding motor vehicles which saw a 12.4% YoY drop in November, total retail sales would have been up by 8.7% 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 (+57.6% YoY) and Wearing Apparel & Footwear (+34.1% YoY) industries.

Other industries that saw increased sales were Department Stores (+22.0% YoY); Cosmetics, Toiletries & Medical Goods (+16.3% YoY); Recreational Goods (+16.2% YoY); Petrol Service Stations (+8.5% YoY); Optical Goods & Books (+5.9% YoY).

On the other hand, sales of Furniture & Household Equipment (-0.7% YoY); Computer & Telecommunications Equipment (-3.9% YoY); Supermarkets & Hypermarkets (-5.8% YoY); Mini-marts & Convenience Stores (-0.1% YoY) dipped in November.

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