Retail sales dip by 0.6% YoY in June

Excluding motor vehicles, sales would’ve suffered a deeper decline of 3.1% YoY.

Retail sales slipped by 0.6% YoY and 3.7% MoM in June, translating to a sales value of $3.8b.

Of the total sales value, 12.1% was from online sales.

Excluding motor vehicles, which saw a 19.5% YoY uptick and a 9.1% MoM decrease, sales would have dipped 3.1% YoY and 2.9% MoM.

The Department of Statistics Singapore (SingStat) attributed the overall decline in retail performance to most industries experiencing downturns in their figures.

Apart from Motor Vehicles, the only industries which saw YoY improvements were Food & Alcohol (5.3% ), Cosmetics, Toiletries & Medical Goods (0.9%), Supermarkets and Hypermarkets (1.6% YoY), and Petrol Service Stations (0.4%).

Meanwhile, Optical Goods & Books led the industries which posted sales decline in June, with a 12.5 YoY contraction.

Other industries which recorded YoY sales declines were Wearing Apparel & Footwear (-10.1%), Department Stores (-5.4%), Recreational Goods (-6.7%),  Watches & Jewellery (-1.7%), Mini-marts & Convenience Stores (-7.1%),  Furniture & Household Equipment (-1.9%), and  Computer & Telecommunications Equipment (-5.1%).