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Singapore retail sales continue their strong post-Covid surge

(Source: Leung Chopan of Envato)

Singapore retail sales surged 16.2 per cent in August (excluding motor vehicles) following July’s 18.4 per cent year-on-year increase. 

Statistics Singapore said the rise was attributable in part to strong performances by apparel stores, food and liquor, and department stores. 

Online retail sales accounted for 14.1 per cent of the estimated S$3.4 billion retail turnover in August (excluding motor vehicles). By category, 51.6 per cent of sales of computers and telecom equipment was transacted online, 32.1 per cent of furniture and household goods, and 14.1 per cent of supermarket and hypermarket sales. 

Almost every retail category achieved increased sales in August, with apparel up by 64.7 per cent, driven largely by footwear and accessories. 

Sales of food and alcohol,rose by 48.5 per cent, through department stores by 42.8 per cent, and of watches and jewellery by 31.2 per cent. 

The only categories showing sales decline were supermarkets and hypermarkets, down by 6.3 per cent, and mini-marts and convenience stores, down by 3.9 per cent. 

Sales by restaurants and other food outlets and services rose by 40.2 per cent in August, following July’s rise of 41.9 per cent, although both figures are high due to the low base of a year earlier when Covid-19-related trading restrictions were in place. 

Online sales accounted for 25.7 per cent of the $928 million spent on food and beverage services.

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