Singapore retail sales (excluding motor vehicles) were nearly flat in July, up only 0.4 per cent year on year following the 2.3 per cent growth in June, according to the Department of Statistics Singapore.

On a seasonally adjusted basis, retail sales decreased 1.1 per cent month over month.

The country’s total retail sales were valued at about S$3.5 billion (US$2.57 billion), of which online transactions accounted for 14.2 per cent.

Most industries recorded year-on-year increases in sales in July, with food & alcohol remaining the fastest-growing (21 per cent), followed by mini-marts & convenience stores (7.4 per cent).

Petrol service station sales were down 16.1 per cent, while department stores, recreational goods, and supermarkets & hypermarkets saw declines of 2.1-5.8 per cent.

Sales of food & beverage services rose 6.5 per cent in July to $1 billion, following the 7.2 per cent increase in June 2023, with about 22.8 per cent from online transactions.

All industries in this sector recorded growths in sales in July, with food caterers registering the largest growth of 24 per cent.