Singapore retail sales fall at slower pace of 8.6% in October

Singapore retail sales fall at slower pace of 8.6% in October

Pedestrians at Orchard Road
Pedestrians are seen along Orchard Road in Singapore on Oct 30, 2020. (Photo: AFP/Roslan Rahman)

SINGAPORE: Retail sales in Singapore fell by 8.6 per cent year-on-year in October, said the Department of Statistics (SingStat) on Friday (Dec 4), although the decline was not as steep as the revised 10.7 per cent fall seen in September.

Most retail industries continued to register declines in sales in October. Food and alcohol, department stores, as well as cosmetics, toiletries and medical goods continued to be among the hardest-hit sectors, with takings down by 44.7 per cent, 35.2 per cent and 30 per cent respectively, according to the Retail Sales Index released on Friday.

Wearing apparel and footwear, as well as watches and jewellery fell by more than 20 per cent.

The best-performing sector was again supermarkets and hypermarkets, with sales up by 22.3 per cent.

Takings also improved for the furniture and household equipment, recreational goods, motor vehicles and mini-marts and convenience stores sectors.

Retail Sales Index Oct 2020
(Table: SingStat)

IMPROVEMENT FROM SEPTEMBER

Compared to the previous month, seasonally adjusted retail sales expanded 0.2 per cent, with most sectors reporting growths.

Takings at petrol service stations increased the most at 5.1 per cent as more people returned to the workplace. In contrast, retailers in the watches and jewellery; cosmetics, toiletries and medical goods; and food and alcohol recorded a decline in sales.

The estimated total value of retail sales in October was about S$3.3 billion, of which 10.5 per cent was spent online.

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F&BSI Oct 20
(Table: SingStat)

F&B SALES DOWN YEAR-ON-YEAR, IMPROVE FROM SEPTEMBER

Food and beverage sales continued to decline in October as well on a year-on-year basis, although they showed a seasonally adjusted month-on-month improvement across the board, according to the Food & Beverage Services Index.

“Sales of food and beverage services fell 23.5 per cent in October 2020 on a year-on-year basis, an improvement over the 29.1 per cent decline in September 2020,” SingStat said. “On a seasonally adjusted basis, sales of food & beverage services increased 5.6 per cent in October 2020 over the previous month.”

Food caterers again suffered the biggest drop in year-on-year turnover - 76.4 per cent - although they saw a 6.4 per cent increase in sales compared to September.

“The total sales value of food and beverage services in October 2020 was estimated at S$692 million,” SingStat said. “Of these, online food and beverage sales made up an estimated 19.7 per cent.”

Source: CNA/kg

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