Retail sales rise 2.7% YoY in March

On a month-on-month comparison, however, sales fell 1.0%.

Retail sales rose by 2.7 YoY but slipped by 1.0% MoM in March, translating to a sales value of $4.2b.

Of the total sales value, 11.7% was from online sales.

Excluding motor vehicles, which saw a 7.0% YoY increase and a 5.7% MoM drop, sales would have risen by 2.0% YoY and fallen by 0.3% MoM.

The Department of Statistics Singapore (Singstat) said most industries recorded a YoY increase in sales, resulting in an overall improvement in retail sales. 

Food & Alcohol led the industries which posted sales 
increase in March, with a 17.0% YoY and 15.1% MoM improvement.

Other industries which recorded sales increases were Department Stores (0.4% YoY), Cosmetics, Toiletries & Medical Goods (1.8% YoY), Recreational Goods (4.0% YoY), Supermarkets and Hypermarkets (1.2% YoY); Wearing Apparel & Footwear (1.6% YoY), Watches & Jewellery (14.1% YoY), Furniture and Household Equipment (+0.6% YoY), and Petrol Service Stations (5.4% YoY).

On the other hand, Optical Goods & Books (-2.7% YoY), Mini-marts & Convenience Stores (-3.7% YoY), and Computer & Telecommunications Equipment (-5.1% YoY) recorded a decrease in sales.