Retail in Asia


Singapore retail sales up 6.7 percent in December

Singapore’s retail sales rose 6.7 percent year-on-year in December 2021, compared to the previous month’s adjusted increase of 2.2 percent, according to data released by the Department of Statistics Singapore on 4th February.

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The estimated total retail sales value in December 2021 was S$4.4 billion (US$ 3.28 billion). Of this, online retail sales made up an estimated 14.6 percent, lower than the 17.1 percent recorded in November 2021 when there were major online shopping events.

Sales of food and beverage services also went up by 7.4 percent in December 2021, compared to November’s 1 percent increase, driven by the loosening of dining-in restrictions from late November onwards.

Most retail sectors recorded year-on-year jumps, including the watches and jewellery industry which went up by 27.4 percent. People also bought more cosmetics, toiletries and medical goods, as well as clothes and footwear – all of which recorded increases of around 17 percent in December compared to the year before.

But the sales of motor vehicles fell 7.2 percent, as did optical goods and books, which dropped 5 percent year-on-year.

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On a seasonally adjusted month-on-month basis, sales in most industries grew, with department stores topping the list at 9.7 percent.