Retail sales jump 17.8% YoY in May

Excluding motor vehicles, total retail sales increased by 22.6% YoY.

Retail sales jumped 17.8% YoY in May mainly due to the low base in the same month last year when travel restrictions were still in place.

Excluding motor vehicles which saw a 10.2% YoY drop in May, total retail sales would have been up by 22.6% YoY, data from the Department of Statistics Singapore showed.

Double-digit increases across industries also contributed to the increase in total retail sales for the month, led by the Wearing Apparel and Footwear segment (98.2% YoY), followed by Department Stores (73.1% YoY), Watches and Jewellery (60.7% YoY), Food and Alcohol (47.3%), Petrol Service Stations (45.8% YoY), and Recreational Goods (35.2% YoY).

Increases were also recorded in the following segments: Optical Goods & Books (13.6% YoY); Computer & Telecommunications Equipment (5.3%); Furniture & Household Equipment (4.7%); Cosmetics, Toiletries & Medical Goods (19.5% YoY); Others (24.1%).

On the other hand, sales of Supermarkets and Hypermarkets, and Mini-marts and Convenience Stores dipped in May by 10.2% YoY and 4.8% YoY, respectively.

Meanwhile, with a higher increase in total retail sales for the month, the sales value rose to $3.9b from $3.7b in April. Excluding motor vehicles, sales value was at $3.5b, also higher from April.

Of the total sales value, 12.0% were from online sales, a lower proportion than April at 12.5%.

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