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JUNE and July were good times for retailers, mainly because sales were bolstered by the pre-goods and services tax hike spending as well as the Great Singapore Sale (GSS).
Total retail sales in June has been officially estimated at about $3 billion.
The total, excluding the sale of motor vehicles, rose by 19.4 per cent compared to the same period last year.
The latest report on retail sales by the Singapore Department of Statistics reveals that the sales of watches and jewellery, furniture and household equipment, recreational goods, telecommunications apparatus and computers saw increases of between 21.3 and 48.4 per cent, the largest increases since 2005.
Statistics released by Mastercard, the official card for the GSS, revealed a similar trend. Singapore cardholders spent a total of US$363.4 million (S$556.98 million) in June and July, an increase of 45 per cent compared to the same period last year.
Foreign cardholders travelling to Singapore spent more than US$224.1 million during the annual sale, up 57 per cent compared to last year.
For locals, the greatest increase in spending was chalked up in the equipment, furniture and home furnishing stores. A total of US$24.8 million was spent, a 12.9 per cent increase.
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