Singapore retail sales increase 4% in August; F&B numbers up again

SINGAPORE: Singapore's retail sales in August rose 4 per cent year-on-year, extending the 1.3 per cent increase in July, according to figures released by the Department of Statistics (SingStat) on Thursday (Oct 5).

Excluding motor vehicles, retail sales rose 3.7 per cent, higher than the 0.6 per cent increase in July.

MOST INDUSTRIES SEE GROWTH IN SALES

Most retail industries recorded year-on-year growth in sales in August compared to a year ago, said SingStat.

The food and alcohol industry saw an increase of 24.1 per cent. Similarly, sales of mini-marts & convenience stores climbed 8.8 per cent, and computer and telecommunications equipment climbed 7.9 per cent.

However, department stores and petrol service stations sales fell 5.2 per cent and 2.7 per cent respectively.

The total retail sales value in August was estimated at S$4.0 billion, with 12.2 per cent comprising online retail sales, lower than the 12.6 per cent recorded in the previous month.

Excluding motor vehicles, the total retail sales value was about S$3.5 billion, with online sales making up 13.8 per cent.

HIGHER DEMAND FOR FOOD CATERING

Sales of food and beverage (F&B) services increased 8.6 per cent in August on a year-on-year basis, up from the 6.6 per cent growth in the previous month.

All F&B services industries recorded year-on-year growth in sales in August.

Food caterers registered the largest growth of 29.8 per cent. Turnover of fast food outlets rose 7.8 per cent, while sales of cafes, as well as food courts and other eating places and restaurants increased 7.7 per cent and 5.3 per cent respectively.

The total sales value of F&B services in August 2023 was estimated at S$1.0 billion, of which an estimated 23.1 per cent were from online sales, higher than the 22.8 per cent recorded in the previous month.