Chart of the Day: Retail sales index fell 6.2% in Q1

Total retail sales declined by 33.4% YoY in April.

This chart from EDMUND TIE shows that the retail sales index (excluding motor vehicles) fell for the sixth consecutive quarter by 6.2% YoY in Q1. Overall, the total retail sales (excluding motor vehicles) declined by 33.4% YoY in April.

EDMUND TIE notes that the retail sector is facing one of its greatest challenges as the pandemic necessitated the temporary closure of many retail outlets with the exception of essential services, such as F&B, supermarkets, clinics and approved healthcare-related trades during the circuit breaker period as well as in Phase 1 of Singapore’s reopening.

It was reported by the Singapore Tourism Board (STB) in February that Singapore lost an average of 18,000 to 20,000 international visitor arrivals daily brought upon by the plunge of visitor arrivals due to travel restrictions.

As international visitor arrivals fell and residents were forced to stay home except when going out for essential services, retailers faced increasing pressures to sustain their businesses while coping with fixed overhead costs.

Also Read

Changi Airports and Hainan Meilan form JV for non-aero services

F&B brands remain key drivers of retail leasing in Q3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit