Singapore retail sales flatline as retailers report mixed performances

(Source: Bigstock)

Singapore retail sales – after excluding motor vehicles – were flat in May following a 4.5 per cent decrease in April.

The estimated total retail sales value was SG$3.6 billion (US$2.6 billion), of which 13.4 per cent were from online, according to the Department of Statistics.

On a seasonally adjusted basis, May’s retail sales were up 3.3 per cent compared to April.

Performance was mixed within the retail trade sector, with food & alcohol leading the group after sales grew 11.1 per cent year on year. Watches & jewellery and cosmetics, toiletries & medical goods recorded increases of 7.4 per cent and 3.1 per cent, respectively.

Wearing apparel & footwear posted the biggest sales drop of 6.8 per cent, followed by optical goods & books with a 6.7 per cent decline and recreational goods with a 5.8 per cent decrease.

Sales of food & beverage services rose 2.9 per cent compared to the 0.1 per cent growth in April. The total sales value of F&B services was approximately SG$1 billion, of which 23.9 per cent were from online.

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