Retail sales growth moderates to 13.7% YoY in July

In June, retail sales grew 14.8% YoY.

Retail sales grew 13.7% YoY in July, moderating from the 14.8% increase in June.

Excluding motor vehicles which saw a 13.3% YoY drop in July, total retail sales would have been up by 18.1% YoY, data from the Department of Statistics Singapore (Singstat) showed.

According to Singstat, sales of motor vehicles dropped as the quota for Certificate of Entitlement (COE) for 2022 was lowered.

On the flip side, most industries still recorded a year-on-year increase in July led by Wearing Apparel & Footwear (+68.3% YoY), Food & Alcohol (+53.1% YoY), Department Stores (+42.9% YoY), and Watches and Jewellery (+41.7% YoY).

Other industries which posted double-digit increases were Cosmetics, Toiletries & Medical Goods (+25.5% YoY); Petrol Services (+23.8% YoY); and Recreational Goods (+16.9%)

Food and Alcohol (+47.7% YoY); Petrol Services (+46/2% YoY); Cosmetics, Toiletries & Medical Goods (25.6% YoY); Recreational Goods (+26.7% YoY), Optical Goods & Books (+17.1% YoY).

Furniture & Household Equipment (+9.1 YoY), Optical Goods & Books (+8.4% YoY), and Computer & Telecommunications Equipment (+4.3% YoY) industries also posted an increase, albeit lower than the others.

On the other hand, sales of Supermarkets & Hypermarkets and Mini-marts & Convenience Stores continued to dip in July by 5.8% YoY and 5.3% YoY, respectively.

Whilst a lower increase in total retail sales for the month, the sales value in July of $3.9b was higher than the $3.8b record in June. Excluding motor vehicles, sales value was at $3.4b, also higher than the June record of $3.3b.

Of the total sales value, 12.7% were from online sales.

Follow the link for more news on

Singapore retail sales

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia