{"id":24695,"date":"2021-08-06T11:10:16","date_gmt":"2021-08-06T04:10:16","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=24695"},"modified":"2021-08-06T11:10:16","modified_gmt":"2021-08-06T04:10:16","slug":"singapores-retail-industries-recorded-large-year-on-year-growth-in-sales","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/singapores-retail-industries-recorded-large-year-on-year-growth-in-sales\/","title":{"rendered":"Singapore’s retail industries recorded large year-on-year growth in sales"},"content":{"rendered":"

Supermarkets and convenience stores were the exception and saw a drop, as there was a higher demand for groceries last year\u00a0<\/span>\u00a0<\/span><\/p>\n

\"\"
The total retail sales value in June was estimated at SGD3.3 billion (USD2.4 billion), with 15.4 percent going to online retail sales.\u00a0MatyasRehak\/Shutterstock<\/figcaption><\/figure>\n

According to Channel News Asia<\/a>, Singapore\u2019s retail sales increased by 25.8 percent year-on-year\u00a0in June,\u00a0from the low base in the same period\u00a0last year\u00a0when\u00a0strict COVID-19 measures were implemented.\u00a0<\/span>\u00a0<\/span><\/p>\n

During Phase 1 of Singapore\u2019s\u00a0reopening from\u00a0a \u201ccircuit breaker\u201d period between June 1 to 18 last year, physical stores remained closed and dining-in food and beverage outlets were suspended.\u00a0<\/span>\u00a0<\/span><\/p>\n

June\u2019s retail sales growth was sluggish than the previous month\u2019s 79.7 percent pace, which was also compared with a\u00a0low base\u00a0caused by\u00a0the circuit breaker measures in May 2020.\u00a0<\/span>\u00a0<\/span><\/p>\n

As stated by the Department of Statistics\u00a0(SingStat),\u00a0excluding motor vehicles,\u00a0retail sales rose\u00a019 percent in June, which was lower than the 61.7 percent jump in May.\u00a0<\/span>\u00a0<\/span><\/p>\n

Most retail industries recorded large year-on-year growth in sales.<\/span>\u00a0<\/span><\/p>\n

Exceptions include supermarkets and hypermarkets, and minimarts and convenience stores, which fell 7.9 percent and 4.5 percent respectively. SingStat attributed this drop to the fact that the demand for groceries was higher last year.\u00a0<\/span>\u00a0<\/span><\/p>\n

Moreover, department stores experienced a sales increase of 61.8 percent. <\/span>\u00a0<\/span><\/p>\n

The total retail sales value in June was estimated at SGD3.3 billion (USD2.4 billion), with 15.4 percent going to online retail sales.\u00a0SingStat\u00a0added that the higher online sales proportion was due mainly to online promotional events such as the Great Singapore Sale.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

The growing demand for food delivery led Food & Beverage (F&B) sales to grow 7.3 percent year-on-year in June, lower\u00a0than the 46.4 percent expansion in May.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Cooling measures a possibility as Singapore private home prices increase<\/strong><\/a><\/p>\n

Cafes, food courts, and other eating places saw a jump in sales by 23.1 percent, and\u00a0fast-food\u00a0outlets by 23 percent.\u00a0<\/span>\u00a0<\/span><\/p>\n

The total F&B sales in June was estimated at SGD529 million, with\u00a047.7 percent coming from online sales, said\u00a0SingStat.<\/span>\u00a0<\/span><\/p>\n

The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i>propertyreport@propertyguru.com<\/span><\/i><\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Supermarkets and convenience stores\u00a0were the exception and\u00a0saw a drop,\u00a0as there was a higher demand for groceries last year\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":24696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2199,528,2198,110],"class_list":["post-24695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-higher-sales","tag-market-update","tag-retail-industries","tag-singapore","news_country-singapore","news_author-property-report"],"acf":[],"yoast_head":"\nSingapore's retail industries recorded large year-on-year growth in sales | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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