S’pore retail sales up 1.7% in September, led by demand for mobile phones, higher petrol prices

Singapore's retail sales experienced a modest growth of 1.7% year-on-year in September, bolstered by increased demand for mobile phones and higher petrol prices, according to the Singapore Department of Statistics. This marked a slight improvement from the 0.8% growth observed in August, with retail sales excluding motor vehicles, parts, and accessories increasing by 2.5%. However, on a month-on-month and seasonally adjusted basis, retail sales declined by 1% compared to the previous month.

The total retail sales for September were estimated at $4.3 billion, with online transactions accounting for 17.7% of the total, up from 15.6% in August. Within the retail trade sector, computer and telecommunications equipment retailers saw a notable year-on-year sales growth of 16.5%, while petrol service stations experienced a 6.5% increase in sales. This surge was primarily driven by the heightened demand for mobile phones and the rise in petrol prices.

Moreover, sales of cosmetics, toiletries, and medical goods also grew by 6%. Conversely, minimarts and convenience stores witnessed a decline in sales, with a 5.6% decrease, while department store sales fell by 3.4% compared to September. Interestingly, food and beverage services sales edged up by 1% year-on-year in September, reversing August's 1.8% decline.

On a seasonally adjusted basis, these sales rose by 0.8% compared to the previous month, totaling an estimated $1.6 billion. Of this, 21.1% was generated from online sales, up from 20.9% in August.

Within the food and beverage services sector, fast-food outlets experienced year-on-year growth of 7.6%, while restaurants recorded a 2.6% increase. Cafes saw a minor increase of 0.1%. However, food caterers' turnover declined by 0.2%, and foodcourts and other eating places declined by 4.2% in September.