Singapore retail sales – excluding motor vehicles – slid 2.7 per cent year on year in December, compared to the 1.3 per cent rebound in November.
On a seasonally adjusted basis, retail sales declined 3 per cent month over month, according to the Department of Statistics Singapore.
The total retail sales value was estimated at SG$4.2 billion (US$3.1 billion), of which 14.8 per cent were from online retail sales.
A majority of industries within the trade sector recorded year-on-year declines, led by recreational goods with sales down 12.3 per cent. Optical goods & books and furniture & household equipment follow with decreases of 11.8 per cent and 8.5 per cent, respectively.
A higher demand in jewellery resulted in a 6 per cent sales increase for the watches & jewellery industry. Food & alcohol retailers also enjoyed a modest 4.4 per cent improvement in revenues.
Sales of food & beverage services rose 0.3 per cent year over year, compared to the 1.6 per cent growth in November. The sales value was approximately US$743 million, of which 23.3 per cent were from online sales – relatively unchanged from November.
