NEWS |

Singapore's Retail Sales Rise up by 6.2% y-o-y to $4.0 Bn in November 2022

Written by Amit Sharma, Community Development Manager

Department of Statistics Singapore today released the retail sales performance data.


On a year-on-year basis, retail sales increased 6.2% in November 2022, extending the 10.3% y-o-y increase seen in October 2022.

Excluding motor vehicles, retail sales rose 8.7%, extending the 14.2% increase in October 2022.


The Retail Sales Index (RSI) and Food & Beverage Services Index (FSI) measure the short-term performance of the retail trade and food & beverage (F&B) services industries based on the sales records of retail trade and F&B services establishments respectively.


The estimated total retail sales value in November 2022 was $4.0 billion. Of this, online retail sales made up an estimated 14.8%, compared to the 13.0% recorded in October 2022. Excluding motor vehicles, the total retail sales value was about $3.6 billion, of which 16.5% came from online retail sales.


The higher online retail sales proportion was mainly attributed to more sales recorded during the year-end online shopping events such as Singles’ Day (11.11) and Black Friday. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 51.4%, 34.2% and 14.5% of the total sales of their respective industry.



Within the retail trade sector, most industries recorded year-on-year growth in sales in November 2022. The Food & Alcohol and Wearing Apparel & Footwear industries recorded year-on-year growths in sales of 57.6% and 34.1%, due mainly to higher demand for alcoholic products (including those sold in duty-free shops) as well as bags and footwear respectively.


Similarly, sales of Department Stores, Cosmetics, Toiletries & Medical Goods and Recreational Goods increased between 16.2% and 22.0%. In contrast, sales of Motor Vehicles fell 12.4%, which corresponded to the lower Certificate of Entitlement (COE) quota this year. The Supermarkets & Hypermarkets and Computer & Telecommunications Equipment industries also recorded declines in sales of 5.8% and 3.9% respectively.



Sales of food & beverage (F&B) services grew by 24.7% in November 2022 on a year-on-year basis, following the 36.9% increase in October 2022. The large growth in F&B sales in November 2022 was mainly attributed to the low base in November 2021, when there were restrictions on dining-in at F&B establishments.


On a seasonally adjusted basis, sales of F&B services declined 0.1% in November 2022 over the previous month. The total sales value of F&B services in November 2022 was estimated at $928 million. Of this, online F&B sales made up an estimated 23.3%, compared to the 24.0% recorded in October 2022.

You Might Also Like

NEWS | 5 April 2023

Flying Tiger Copenhagen To Use Franchise Model to Open 1000 New Stores in Southeast Asia

Flying Tiger Copenhagen, the popular Danish design and homeware store, is set to expand in Southeast Asia through a franchise model, opening up 1000 new stores

NEWS | 4 April 2023

73% OF CONSUMERS IN ASIA PACIFIC & JAPAN (APJ) MAY STOP USING BRANDS THAT DON'T PERSONALISE THEIR EXPERIENCES

Consumer patience in APJ is low — 73% will stop using brands if their experience is not personalised .

NEWS | 8 February 2023

Luckin Coffee Eyes Southeast Asia Expansion and Opens 500 New Stores in China

According to industry sources, the largest coffee chain in China, Luckin Coffee is eyeing expansion across Southeast Asia and plans to open 500 outlets across China in tier three and four cities.

Latest on TFA

EXPLORE | 6 March 2024

Unveiling the Local Gems: Indonesia's Franchise Success Stories

In the vibrant and diverse landscape of Indonesia's business scene, some local franchise brands have managed to make a lasting impression, often being mistaken for international giants. Let's take a c

TRENDS | 6 March 2024

The Buzz on Grab & Go Coffee Shops: Emerging Brands Brewing Success in Indonesia

Indonesia, a nation known for its rich coffee culture, is witnessing a new trend that's changing the way people enjoy their daily cup of joe – Grab & Go Coffee Shops. This on-the-go coffee experience

SPOTLIGHT | 6 March 2024

Empowering Success: Women Pioneering Franchising in Indonesia

In the vibrant world of franchising in Indonesia, a wave of inspiring women is making significant strides, reshaping the landscape and proving that success knows no gender. Let's shine a spotlight on