Retail sales slump eases to 27.8% fall

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Singapore retail sales fell at a slower pace of 27.8 per cent year-on-year in June, an improvement from the record 52 per cent plunge in May and the 40.3 per cent fall in April, the Department of Statistics (SingStat) said in a press release yesterday. Excluding motor...

SingStat pointed out though, that the growth came from a low base in May.

Motor vehicle sales tumbled 47.8 per cent, and sales of food and beverage services by 43.5 per cent in June.Computer and telecommunications equipment saw a sales increase of 20.9 per cent due to continued work-from-home arrangements.Dr Kapil Tuli, professor of marketing at Singapore Management University, said the retail scene in the country will continue to take a hit as tourists, who are heavy spenders in the sector, are unlikely to return until at least early-2021.

Online purchases of computer and telecommunications equipment, furniture and household equipment and goods from supermarkets and hypermarkets made up 69.9 per cent, 45.6 per cent and 10.7 per cent of the total sales in their respective industries.

 

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