Retail sales fell 2.6% in July

Motor vehicle sales dropped 15.4%.

Retail sales decreased 2.6% YoY in July, the Department of Statistics (SingStat) revealed. Total retail sales for the month hit about $3.7b where 4.4% came from online retail sales.

The highest drop in sales was recorded by motor vehicles (15.4%), followed by computer & telecommunications equipment and optical goods & book which saw their sales slipping by 6%.

Other segments which saw a slip in sales are department Stores (4.6%), supermarkets & hypermarkets (3%), and food retailers (5.4%).

Petrol service station sales saw the biggest increase of 10.1%. Coming next are furniture & household equipment and medical goods & toiletries which saw their sales rising by 2.6% and 2.8%, respectively.

Other sectors which saw an increase in sales include mini-marts & convenience stores (0.1%), wearing apparel & footwear (2.1%), recreational goods (0.1%), and watches & jewellery (2.1%).

On a MoM basis, retail sales dropped 2.6%.

Meanwhile, the food and beverage (F&B) services index dipped 0.3% as fast food outlets (3.8%) became the only gainers in terms of sales.

All other F&B services segments recorded a slip in sales including restaurants (0.8%), food caterers (0.6%), and other eating places such as cafes (1.1%).