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Singapore retail sales continue upward trend with solid December data

(Source: Leung Chopan of Envato)

Singapore retail sales continued to surge in December, up by 9.5 per cent year on year after motor vehicles were eliminated from the data. That followed a 9 per cent increase in November

Online sales accounted for 14.2 per cent of turnover, a little lower than in November when several major online shopping festivals were conducted. The strongest e-commerce categories were computers and telecommunications equipment, with 47.4 per cent of overall sales conducted online, furniture and household goods (30 per cent) and supermarkets (13.2 per cent)

Statistics Singapore said the food & alcohol sector showed the greatest growth in December, up by 37.4 per cent, reflecting higher demand for alcoholic products, including those sold in duty-free stores. Sales of apparel and footwear rose by 23 per cent, largely due to strong demand for bags and footwear. 

Sales of watches & jewellery, cosmetics, furniture & household equipment and through department stores increased by between 11 per cent and 19.9 per cent.

Meanwhile, food & beverage services posted growth of 13.9 per cent for the month, a slower rate than November’s 25 per cent. 

Sales reached around S$1 billion, or US$762 million at today’s cross rate. Of that, online transactions accounted for about 22.8 per cent, about the same as in November. 

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