Real Singapore retail sales slid 3.6 per cent in December, ending a year most of the city state’s retailers would love to forget.
Seasonally adjusted, ‘real’ retail sales – which Inside Retail Singapore defines as the official retail sales figure with motor vehicle sales removed – fell 2.8 per cent from November to December.
According to Statistics Singapore, the total retail sales value in December 2015 was estimated at $4.1 billion – higher than the $4 billion in December 2014 -which shows the strength of the new vehicle market which has held strong all year. Year-on-year, retail sales with motor vehicle values included, rose 2.9 per cent.
Month-on-month, and after seasonal adjustments, retail sales of telecommunications apparatus & computers, watches & jewellery, department stores, furniture & household equipment, medical goods & toiletries, wearing apparel & footwear and mini-marts & convenience stores all decreased, at rates ranging from 0.6 per cent to 8.9 per cent.
Along with motor vehicles and fuels, the only categories to record a rise were food & beverages, optical goods and books, at rates of between 0.4 per cent and 1.9 per cent.
Retail sales of supermarkets rose a slight 0.1 per cent in December 2015 compared to the previous month, and recreational goods sales remained static.
Year-on-year, motor vehicle sales by value rose 62.5 per cent in December. Medical goods & toiletries and sales in supermarkets increased by 4.4 per cent and 0.1 per cent respectively.
In contrast, retail sales of telecommunications apparatus & computers and food & beverages decreased 26.4 per cent and 10 per cent. Sales of petrol service stations, optical goods & books, furniture & household equipment, wearing apparel & footwear, watches & jewellery, recreational goods, mini-marts & convenience stores and department stores declined between 1.4 per cent and 6.2 per cent year-on-year.
After seasonal adjustment, turnover of restaurants and other eating places (such as cafes) declined 4 per cent and 2.4 per cent respectively month-on-month. Conversely, fast food outlets and food caterers registered increases in receipts of 3.8 per cent and 2.5 per cent respectively.
Year-on-year, sales of restaurants, other eating places and food caterers decreased between 1.6 per cent and 7.8 per cent in December. In contrast, turnover of fast food outlets grew by 2.4 per cent during the same period.