Retail sales climb 1.3% YoY in January

Month-on-month, however, sales slipped by 0.7%.

Retail sales rose 1.3% YoY, but declined 0.7% MoM in January, translating to a sales value of $4.3b.

Of the total sales value, 11.2% was from online sales.

Excluding motor vehicles, which saw a 37.3% YoY increase and an 8.6% MoM drop, sales would have fallen by 2.1% YoY but risen by 0.5% MoM.

The Department of Statistics Singapore (Singstat) said the higher motor vehicle sales led to the YoY increase in retail sales. 

Apart from motor vehicles, industries which recorded YoY sales increase in January include Food & Alcohol (+8.5% YoY); Watches & Jewellery (+5.3% YoY); Mini-marts & Convenience Stores (+1.7% YoY); Petrol Service Stations (+3.1% YoY); and Furniture & Household Equipment (+3.4% YoY).

In December, sales of recreational goods fell 11.8% YoY, making it the industry with the biggest drop in sales.

Apart from recreational goods, industries which recorded a year-on-year sales decrease in December include Department Stores (-5.8% YoY); Cosmetics, Toiletries & Medical Goods (-0.1% YoY); Supermarkets and Hypermarkets (-2.9% YoY); Furniture & Household Equipment (-8.5% YoY); Optical Goods & Books (-11.8% YoY); Wearing Apparel & Footwear (-6.2% YoY); Mini-marts & Convenience Stores (-8.2% YoY);  and Petrol Service Stations (-3.8% YoY)

On the other hand,  Department Stores (-2.6% YoY); Cosmetics, Toiletries & Medical Goods (-0.4% YoY); Recreational Goods (-4.9% YoY); Optical Goods & Books (-1.3% YoY); Supermarkets and Hypermarkets (-6.5% YoY); Wearing Apparel & Footwear (-11.8% YoY); and Computer & Telecommunications Equipment (-3.6% YoY) recorded a decrease in sales.