Singapore’s Retail Sales Rebound in July

Singapore’s retail sales are showing signs of recovery after most physical stores re-opened in mid-June, with retail sales rising by 27.4 percent month over month in July 2020, data from the Singapore Department of Statistics showed in early September.

Excluding motor vehicle sales, retail sales jumped by 19.5 percent in July from June.

Compared to July 2019, retail sales in Singapore were still lower, by 8.5 percent, or by 7.7 percent excluding motor vehicle sales.

Online sales accounted for 11 percent of the total value of Singapore’s retail sales in July 2020. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 49.1 percent, 21.8 percent, and 11.4 percent of the total sales of their respective industry.

Food and beverage sales jumped by a seasonally-adjusted 29.2 percent in July from June, when food & beverage establishments operated on a takeaway or delivery basis until 18 June. Online sales represented 21.1 percent of food and beverage sales in July.

In Singapore, the gradual resumption of business activities due to the COVID-19 situation started on 2 June for Phase One and 19 June for Phase Two re-opening.

In July 2020, compared to the same month of 2019, sales of the Supermarkets & Hypermarkets and Computer & Telecommunications Equipment industries jumped by 28.6 percent and 27.4 percent, respectively, due to increased demand for groceries as well as computers and mobile phones, Singapore Department of Statistics said.

All retail industries, except the Supermarkets & Hypermarkets and Mini-marts & Convenience Stores segments, saw sales rising in July 2020 on a seasonally adjusted month-on-month basis, the statistics data showed.