, Singapore
240 views
Photo by Alesia Kozik via Pexels

Singapore retail sales up 2% YoY in September

It was largely driven by a surge in motor vehicle sales.

Retail sales in Singapore grew by 2% in September 2024 compared to the same month last year, marking a continued increase following August's 0.7% rise, according to the latest data released by the Singapore Department of Statistics.

The growth was largely driven by a surge in motor vehicle sales, which jumped 29.6% year-on-year, benefiting from an increased Certificate of Entitlement (COE) quota.

Excluding motor vehicle sales, however, the retail sector saw a 1.4% decline in sales, a slight deepening of August’s 1.3% drop.

On a seasonally adjusted basis, retail sales in September increased 0.4% from the previous month, whilst excluding motor vehicles, they slipped by 0.2%.

The total retail sales value reached $4b, with 13.8% of sales from online platforms, up from 12.2% in August. Excluding motor vehicles, retail sales were $3.4b, and 16.2% came from online.

Online sales were highest in computer & telecommunications equipment (51%), furniture & household equipment (33.3%), and supermarkets & hypermarkets (13%).

Year-on-year, most retail industries declined. Sales at wearing apparel & footwear, petrol service stations, and department stores dropped 6.8% to 9.3%, whilst cosmetics, toiletries & medical goods, and furniture & household equipment rose slightly by 2.9% and 2%, respectively.

Month-on-month, motor vehicles, optical goods & books, and department stores saw sales rise by 5%, 3.2%, and 3.1%, whilst food & alcohol and watches & jewellery fell 7.3% and 5.8%.

Motor vehicle sales continue to drive overall retail growth, whilst other segments face ongoing challenges.

Kawan Lama Indonesia mengaburkan batas antara belanja online dan offline

Pengunjung  platform e-commerce grup, Ruparupa.

Toys ‘R’ Us Asia mengandalkan ‘Kidult’ untuk mendorong penjualan mainan

Remaja dan orang dewasa berusia 12 tahun ke atas semakin banyak membeli brand mainan ikonik dari era 80-an dan 90-an.

MINISO membuka toko terbesar di dunia di Jakarta

Peritel asal Cina, MINISO, menargetkan ekspansi hingga 1.

PUMA bidik konsumen muda tech-savvy di TikTok

Produsen pakaian olahraga terbesar ketiga di dunia ini memanfaatkan influencer lokal untuk terhubung dengan pasarnya.

Mengapa e-commerce perlu beralih ke prioritas yang customer-centric

Pengalaman shopper yang terintegrasi di platform fisik dan digital sangatlah penting.

Bagaimana peritel dapat sukses menjangkau pasar Gen Z yang terus berkembang

Secara global, Gen Z diperkirakan akan memiliki total pengeluaran konsumen sebesar $12 triliun pada 2030.

K3Mart memadukan budaya Korea dan produk UMKM lokal dalam satu gerai

Convenience store itu menyediakan perbandingan produk impor dan produk lokal sebesar 50:50 di 30 outlet mereka.

Bagaimana L’Oréal memanfaatkan teknologi digital untuk menjadi ‘beauty life companion’

Menggabungkan data, kreativitas, dan teknologi mutakhir untuk membentuk ulang pengalaman konsumen.

Ayala Malls mengambil langkah berani ke arah redevelopment berteknologi tinggi

Inti dari transformasi ini adalah experiental store yang menggabungkan belanja dengan inovasi teknologi terbaru.