Singapore retail sales up 2.2% in October

Total retail sales for October were valued at $4.1b.

Retail sales in Singapore increased by 2.2% year-on-year in October, following a 1.9% growth in September, as per data from the Department of Statistics Singapore.

Excluding motor vehicles, retail sales grew by 0.3%, reversing the 1.5% decline in September. On a seasonally adjusted basis, retail sales rose 0.1% from the previous month, whilst excluding motor vehicles, sales increased by 1.2%.

Total retail sales for October were valued at $4.1b, with 12.7% from online sales, down from 13.8% in September. Excluding motor vehicles, the total was $3.6b, with 14.7% from online sales.

Online sales made up 47.7%, 31.5%, and 12.9% of total sales in the computer and telecommunications equipment, furniture and household Equipment, and supermarkets and hypermarkets sectors, respectively.

Moreover, the motor vehicles industry saw an 18.4% increase in sales, driven by a higher COE quota. Retail sales for furniture and household equipment and food & alcohol rose by 5.7% and 5.5%, respectively.

However, sales for computer and telecommunications equipment dropped by 10.9%, whilst petrol service stations and optical goods and Books saw declines of 5.9% and 5.8%, respectively.