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Singapore retail sales growth stagnates in August

Singapore retail sales growth – excluding motor vehicles – remained static in August, following July’s 2-per-cent increase. 

Of the estimated $2.9 billion in retail sales (excluding vehicles), online sales accounted for 16.4 per cent, a similar proportion as in July. By category, the strongest online was computer & telecommunications equipment, with 56.5 per cent of turnover online rather than instore. Online accounted for 31.5 per cent of furniture & household goods sales and 14 per cent of supermarkets & hypermarkets. 

In terms of overall category sales, most sectors recorded year-on-year declines in sales during August. Optical goods & books were worst affected – down by 9.6 per cent – followed by department store turnover, down by 8.5 per cent.  Sales through petrol service stations and of watches & jewellery rose by 23.7 per cent and 7.9 per cent respectively, driven by higher petrol prices and greater demand for watches, said Statistics Singapore. 

Meanwhile, sales of food & beverage services fell 6.7 per cent in August compared to the 6-per-cent decline in July, due mainly to stricter dine-in restrictions this year. 

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