Retail sales post slower growth of 1.5% in July, lowest since February

Singapore's retail sales grew by just 1.5 per cent in July, recording a total value of $4.4 billion, data posted on Monday (Sept 7) by the Singapore Department of Statistics (SingStat) showed.

In comparison, the growth recorded in June was 4 per cent, year-on-year. 

Excluding motor vehicles, parts and accessories, retail sales grew by just 1.5 per cent, down from 4.1 per cent in June.

On a month-on-month and seasonally adjusted basis, retail sales rose 0.9 per cent in July, similar to the preceding month.

Excluding motor vehicles, parts and accessories, retail sales expanded by 0.7 per cent, bettering June's 0.1 per cent.

The total value of sales in July was $4.4 billion, but excluding motor vehicles, parts and accessories sales it was $3.7 billion, 

According to SingStat, 15.4 per cent of total retail sales were transacted online. Excluding motor vehicles, parts and accessories, this proportion grew to 18.3 per cent.

Across the 14 categories tracked, sales growth was recorded in seven sectors, with the highest growth recorded in watches and jewellery and recreational goods: 

• Motor vehicles, parts and accessories at 1.4 per cent
• Cosmetics, toiletries and medical goods at 4.5 per cent
• Furniture and household equipment at 1.3 per cent
• Watches and jewellery at 11.1 per cent
• Wearing apparel and footwear at 2.3 per cent
• Recreational goods at 13.9 per cent
• Computer and telecommunications equipment at 5.1 per cent

Meanwhile, departmental stores, and food and alcohol recorded the highest decline:

• Department stores down 3.5 per cent
• Mini-marts and convenience down 1.5 per cent
• Optical goods and books down 2.2 per cent
• Supermarkets and hypermarkets down 2.1 per cent
• Food and alcohol down 5.1 per cent
• Petrol service stations down 1.1 per cent
• Others down 4 per cent

The SingStat data also showed that food and beverage (F&B) services sale fell 1.9 per cent, on a year-on-year basis, better than the 2.3 per cent decline posted in June.

The total value of F&B sales stood at about $1.6 billion, with online transactions accounting for 20.9 per cent of the total.

Within the sector, food courts and other eating places, as well as cafes registered decreased in sales of 6.6 per cent and 6.4 per cent respectively.

Similarly, sales by restaurants fell 0.3 per cent during this period.

However, fast food outlets and food caterers saw growth of 4.6 per cent and 0.3 per cent respectively in July.

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editor@asiaone.com