Singapore retail sales rise 17.8% in May, up from low base in 2021
FILE: People walk inside a shopping mall in Singapore. (AFP/Roslan Rahman)
SINGAPORE: Singapore's retail sales in May rose 17.8 per cent year-on-year, extending the 12.1 per cent increase in April, according to figures released by the Department of Statistics (SingStat) on Tuesday (Jul 5).
"The year-on-year increase in retail sales in May 2022 was mainly attributed to the low base in May 2021 when measures such as international travel restrictions were in place," said SingStat.
Last May, the size of group gatherings allowed was reduced from five people to two, following a spike in COVID-19 community cases. Dining-in was also suspended.
Excluding motor vehicles, retail sales rose 22.6 per cent, higher than the 17.4 per cent increase in April.
MOST INDUSTRIES SAW GROWTH IN SALES
Most retail industries recorded a surge in sales in May compared to a year ago.
Discretionary industries such as wearing apparel and footwear saw takings increase by 98.2 per cent. Department stores recorded a 73.1 per cent jump in sales, while watches and jewellery saw a growth of 60.7 per cent.
However, sales of motor vehicles fell 10.2 per cent. Supermarkets and hypermarkets, as well as mini-marts and convenience stores also recorded lower sales, falling by 10.3 per cent and 4.8 per cent respectively.
This was due to higher demand for groceries in May 2021 as more people stayed home during the Phase 2 (Heightened Alert) period, said SingStat.
The total retail sales value in May was estimated at S$3.9 billion, with online retail sales making up about 12 per cent, lower than the 12.4 per cent recorded in the previous month.
Excluding motor vehicles, the total retail sales value was about S$3.5 billion, with online retail sales making up 13.6 per cent.
HIGHER DEMAND FOR EVENT AND IN-FLIGHT CATERING
Sales of food and beverage services grew by 40.1 per cent in May on a year-on-year basis, compared to the 11.6 per cent increase in the previous month.
"The significant growth in F&B sales in May 2022 was mainly attributed to the low base in May 2021, when Phase 2 (Heightened Alert) measures were in place, with dining-in at F&B establishments not allowed for half of the month," said SingStat.
All F&B services industries recorded year-on-year growth in sales in May.
Food caterers saw takings grow by 101.6 per cent. This was mainly due to higher demand for event and in-flight catering, with the easing of restrictions on large-scale events and international travel, said SingStat.
Similarly, turnover of restaurants rose 66 per cent, while sales of cafes, food courts and other eating places increased by 25 per cent. Fast food outlets saw takings rise by 13.8 per cent.
The total sales value of F&B services in May 2022 was estimated at S$910 million, of which online sales made up an estimated 24.4 per cent, lower than the 26.7 per cent recorded in the previous month.
