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Singapore retail sales surge 25 percent in June

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Singapore retail sales surged 25.8 percent in June year-on-year, with the Southeast Asian nation’s retail sales continuing to sit below pre-Covid levels in 2021.

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Total retail sales in June hit US$2.43 billion, or US$2.7 billion, excluding motor vehicles, for a yearly increase of 19 percent.

“Retail sales increased 25.8 percent in June 2021 on a year-on-year basis, attributed to the low base in June 2020 when Phase 11 measures were in place and physical stores were closed until 18 June 2020,” said a statement from the Department of Statistics Singapore.

Online sales attributed to 15.4 percent of total retail sales in June and were higher in June compared to May, mainly due to online promotional events such as the Great Singapore Sale.

Overall growth in June was, however, smaller than the yearly retail sales growth reported in May.

“The year-on-year growth in June 2021 was smaller compared to the 79.9 percent increase in May 2021 with Circuit Breaker measures in place for the whole of May 2020. Retail sales value continued to be below pre-Covid levels,” the ministry added.

By category, sales of motor vehicles expanded the most, at 80.6 percent. Next, watches and jewellery surged 78.4 percent compared to last year, while department store sales leapt 61.8 percent. Apparel and footwear sales gained 60 percent, followed by Recreational Goods, up 53.9 percent;  furniture and household equipment, up 37.2 percent; optical goods and books, up 18.9 percent; food and alcohol, up 14.1 percent; and computer and telecommunications equipment, which gained 13.7 percent year-on-year.

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Cosmetics and toiletries sales dipped 0.2 percent year-on-year, outweighed by supermarket and hypermarket sales, down 4.5 percent. Minimart and convenience store sales dipped 7.9 percent, said the Ministry.