Value of total retail sales jumps 4.1% YoY to $28.3b in July

Online retail accounted for 7.9% of the total sales.

The value of total retail sales clocked in at $28.3b in July, translating to a 4.1% year-on-year (YoY) increase.

Data from the Census and Statistics Department (C&SD) showed that online retail accounted for 7.9% or $2.2b of the total sales.

Compared to July 2021, the proportion of online retail sales to the total value increased by 8.6%.
 
The value of sales also increased across broad types of retail outlets namely supermarkets (+1.7%); jewellery, watches and clocks, and valuable gifts (+28.3%); wearing apparel (+3.7%); food, alcoholic drinks and tobacco (+2.2%); electrical goods and other consumer durable goods (+0.6%); medicines and cosmetics (+4.5%); fuels (+9.0%); footwear, allied products and other clothing accessories (+2.2%); Chinese drugs and herbs (+1.2%); and optical shops (+9.6%); and other consumer goods (+7.7%).

 On the other hand, the value of sales of commodities in department stores (-9.7%), motor vehicles and parts (-11.9%),  furniture and fixtures (-3.2%), and books, newspapers, stationery and gifts (-9.2%)  decreased in July 2022.

A government spokesman said the increase in retail sales was due to improving labour market conditions and a lower base of comparison.