Singapore retail sales up 2.8% in September

In contrast, F&B sales declined 1.6% YoY and 1.3% MoM (seasonally adjusted), with total sales estimated at $966m. 

Singapore’s retail sales rose 2.8% YoY in September, but declined 1.4% on a seasonally adjusted MoM basis, according to the latest figures from the Department of Statistics.

Excluding motor vehicles, retail sales were up 2.0% YoY but fell 2.3% MoM.

Total retail sales were estimated at $4.1b, with online sales accounting for 14.9% of that total. When excluding motor vehicle sales, the online share rose to 17.6%.

Industries with the highest online sales penetration included computer and telecommunications equipment (55.1%), furniture & household equipment (35.4%), and supermarkets and hypermarkets (12.2%).

Watches and jewellery posted the strongest YoY growth at 16.6%, followed by recreational goods (11.0%) and motor vehicles (7.8%). On the downside, petrol service stations saw sales fall 8.0%, while wearing apparel and footwear declined 3.6%.

On a MoM seasonally adjusted basis, department stores recorded a 15.6% rise in sales, and motor vehicles increased 4.5%. The largest MoM declines came from furniture and household equipment (-5.5%), petrol service stations (-5.3%), and cosmetics, toiletries and medical goods (-5.2%).

In contrast, the Food & Beverage Services Index (FSI) continued to show weakness. F&B sales declined 1.6% YoY and 1.3% MoM (seasonally adjusted), with total sales estimated at $966m. Online food services accounted for 26.3% of total F&B sales.

Among F&B segments, food caterers saw the strongest growth, up 16.8% YoY and 9.0% MoM. Fast Food outlets also saw an increase of 1.8% YoY and 0.2% MoM.

Meanwhile, restaurants recorded a sharp 10.6% YoY decline and a 5.8% drop from August. Sales at cafes, food courts, and other F&B establishments were largely flat, up 0.2% YoY and down 1.1% MoM.