Retail sales slipped 3% YoY to $3.8b in November

Online retail sales made up an estimated 6.6% of the month's sales.

Retails sales bucked the upward trend from October after dipping 3% YoY to $3.8b in November, according to data from the Department of Statistics (SingStat). Excluding motor vehicles, retail sales declined at a smaller rate of 0.2%.

Online retail sales made up an estimated 6.6% of retail sales in November. On a MoM basis however, retail sales inched up 0.2%

The highest increase in sales was recorded by department stores which jumped 8.7% YoY, partially driven by higher sales during the Black Friday period. It was followed by sales of medical goods and toiletries with an increase of 4.8% YoY on the back of higher sales in cosmetics and toiletries and furniture and household equipment which climbed 3.3% YoY.

Petrol service stations sales rose 3.1% as a result of higher petrol prices. In volume terms however, sales of petrol service stations declined 0.7% after removing the price effect.

Wearing apparel and footwear (3%), watches & jewellery (1.4%) and recreational goods (0.3%) also reported an increase in sales in November.

On the other hand, sales of computer and telecommunications equipment crashed 22.1% YoY in November which SingStat attributed to higher sales in 2017 when there were major mobile phone launches. Similarly, sales of motor vehicles fell 15.1% YoY with a decrease in number of motor vehicles sold.

Optical goods and books (-4.6%), food retailers (-3.7%), supermarkets & hypermarkets (-1.4%) and mini-marts and convenience stores (-0.6%) reported declines in sales in November as well.

The retail sales index (RSI) measures the short-term performance of the retail trade based on sales records.

Meanwhile, the food and beverage (F&B) services index climbed 2.4% YoY with a total sales value at about $845m from $826m in 2017. The fast food industry recorded the highest increase in sales at 4.5%, followed by restaurants (2.9%) and other eating places such as cafes (2.5%).

Food caterers was the only industry which reported a -2% decline in sales in November 2018.

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