Singapore’s retail sales fell 1.9% y-o-y in November 2020, marking an improvement from the 8.5% y-o-y decline in October 2020, according to data released by the Department of Statistics (SingStat) on Jan 5.

The smaller decline in retail sales was due mainly to events such as the Singles’ Day and Black Friday sales, as well as from new mobile phone launches.

Similar to October’s declines, food and alcohol; cosmetics, toiletries and medical goods; as well as department stores saw the highest declines at -37.3%, -27.5% and -24.5% respectively.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook