Singapore retail sales fall 2.9% to S$4.6b in December
Retail sales in Singapore fell 2.9% on-year in December 2024 to S$4.6 billion. Analysts said there is no cause for concern, citing more outbound year-end travel among Singaporeans and consumers having delayed spending to prepare for the Chinese New Year. Most retail sectors saw declines — with computer and telecommunications equipment, as well as mini-marts and convenience stores among the hardest hit. In contrast, the food and beverage sector rose 1%, with food caterers leading the way.
Retail sales in Singapore fell 2.9% on-year in December 2024 to S$4.6 billion. Analysts said there is no cause for concern, citing more outbound year-end travel among Singaporeans and consumers having delayed spending to prepare for the Chinese New Year. Most retail sectors saw declines — with computer and telecommunications equipment, as well as mini-marts and convenience stores among the hardest hit. In contrast, the food and beverage sector rose 1%, with food caterers leading the way.