Singapore retail sales down for 10th month in November with 4% drop

The sale of food and beverage services remained strong, with growth of 5.5 per cent compared with the same period the year before.
The sale of food and beverage services remained strong, with growth of 5.5 per cent compared with the same period the year before.PHOTO: ST FILE

SINGAPORE - Retail sales slid for the tenth consecutive month in November, weighed down again by falling vehicle sales, according to figures out on Friday (Jan 10) by the Department of Statistics.

Takings at the till fell 4 per cent compared with November the year before.

This was largely in line with the 4.1 per cent decline predicted by analysts polled by Bloomberg.

Excluding big-ticket motor vehicles, retail sales fell 0.6 per cent year on year.

October sales were also revised downward to a drop of 4.4 per cent.

Among the retail categories, vehicle sales plunged the most in November, at 22.4 per cent. The decrease corresponded with the lower certificate of entitlement (COE) quota for the period of November 2019 to January 2020, Singstat said.

Furniture and household equipment also registered a double-digit fall, of 10.9 per cent.

This was followed by department stores that saw takings slide by 8.4 per cent.

However the sales of wearing apparel and footwear saw growth, increasing 4.3 per cent, partly due to a high demand for bags and footwear.

Mini-marts and convenience stores also recorded higher sales at 3 per cent.

The sale of food and beverage services remained strong, with growth of 5.5 per cent compared with the same period the year before.

 
 
 

All segments here registered increase, with takings at fast food outlets leading the way by growing by 12.4 per cent.

This was followed by restaurants that saw sales increase by 6.4 per cent.

The total sales value of food and beverage services in November last year was estimated at $898 million, compared with $851 million in November 2018.

The estimated total retail sales value in November last year was about $3.6 billion.

Online sales made up an estimated 8 per cent of total retail turnover. This was an increase from the 6.1 per cent share it took in October last year, due to higher online sales from major online shopping events such as Singles' Day, Black Friday and Cyber Monday.