In April this year, Singapore’s retail sales experienced a year-on-year decline for the first time, primarily due to a decrease in the number of inbound tourists.
According to data from the Singapore Department of Statistics, retail sales in April amounted to SGD 3.9 billion, marking a 1.2% year-on-year decline. Online sales contributed approximately 11.8% of the total retail sales. In contrast, the revised retail sales for March saw a year-on-year increase of 2.8%.
Excluding automobiles, retail sales in April fell by 4.5% year-on-year, compared to a 2.1% increase in March.
By major categories:
- Sales of clothing and footwear saw the largest decline, down 16.2% year-on-year.
- Department store sales decreased by 8.5% year-on-year.
- Sales at mini-marts and convenience stores fell by 7.4% year-on-year.
- Automotive sales increased by 25% year-on-year.
- Sales at food and beverage outlets rose by 21.3% year-on-year.
- Food and alcohol sales increased by 4.7% year-on-year.
- Sales at cafes, food courts, and other eating places grew by 4% year-on-year.
- Petrol service station sales increased by 3% year-on-year.
- Food service sales grew by 0.3% year-on-year.
In addition, the food and beverage industry saw a decline, with sales falling by 7.5% year-on-year, while sales at fast-food outlets decreased by 0.7% year-on-year.
In April, the number of international tourists in Singapore declined, marking the lowest figure so far this year.
According to the Singapore Tourism Board, Singapore received 1.36 million tourists in April, down from 1.48 million in March (American pop star Taylor Swift held six concerts at the Singapore National Stadium in March this year).
| Source: Official Press Release
| Image Credit: Free Image Website Pexels
| Editor: LeZhi
