Fast food outlets generate 10% sales growth in Singapore

Total sales value of food & beverage services was estimated at $916m.

Singaporeans were spending more in fast food in the past 12 months ending August, beating out the combined performance of restaurants, food caterers and other eating places.

According to their Department of Statistics, fast food outlets grew 10% YoY, followed by restaurants (4.9% YoY) and food caterers (3.7% YoY). Other eating places such as cafes were on the red, down 0.4% YoY.

Also read: F&B firms ride on strong earnings growth despite mounting costs

Comparing performances over the previous month, restaurants were the top gainers, reporting 3.1% sales growth, followed by fast food outlets (1.2%) and food caterers (0.2%). Turnover of other eating places decreased marginally by 0.1% in the said period.

Overall, sales of food & beverage services grew by 3.6% in August compared to the same period last year and increased by 1.4% over the previous month.

Total sales value of food & beverage services was estimated at $916m, compared to $884m in August 2018.

Meanwhile, food retailers - stores which sell food & beverages that are generally not meant for immediate consumption on their premises - was down 2.3% YoY and down 1.2% MoM.

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