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SINGAPORE: Retail sales in almost all categories plummeted in March, but some sectors remained unscathed, especially supermarkets and hypermarkets.
Figures released by the Department of Statistics (SingStat) on Tuesday (May 5) showed that overall retail sales in March decreased by 13.3 percent, compared to the same period last year.
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This is the biggest drop since September 1998, according to Reuters.
SingStat attributed the decline in retail trade to weaker domestic consumption and fewer tourist arrivals as a result of the COVID-19 outbreak.
Clothing and footwear sales registered a sharp decline of 41.6% year-on-year, closely followed by food and alcohol. Department stores were also seriously affected.
Compared to February, sales of food and alcohol, and motor vehicles fell 21.6 percent and 16.4 percent, respectively.
Similarly, sales of optical products and books decreased 12.3 percent, mainly due to lower demand for books, according to SingStat.
Excluding motor vehicles, retail sales fell 9.7 percent.
SUPERMARKETS BUCK TREND
With more people staying home due to safe distancing measures, supermarkets, hypermarkets, mini-marts and convenience stores benefited from increased demand for groceries.
Supermarkets and hypermarkets posted higher sales of 35.9 percent year-on-year in March, while mini-marts and convenience stores saw a 4.7 percent increase.
READ: Sheng Siong’s first-quarter earnings increased nearly 50% thanks to ‘high’ demand for COVID-19; employees to get an additional month of salary
One of those supermarket chains, Sheng Siong, previously reported a nearly 50 percent increase in first-quarter profits after “high demand” that kicked in when the government raised the level of DORSCON to Orange on February 7. .
Similarly, business was reported to have been dynamic for supermarket chains, minimarts and supply stores during the COVID-19 outbreak, as they cut some of the demand from people who want to shop close to home.
Items such as rice, oil and toilet paper were particularly popular when the panic purchase was made, previously explained the managing director of the HAO supermarket chain group Mart Patrick Tan.
“Now they (customers) are moving to fresh items: fruits, vegetables, eggs … these are all high-demand items,” he said.
READ: COVID-19: Minimarts, grocery stores see energetic businesses but need additional manpower
A clear trend to work from home was also good news for those who sell furniture, as well as computer and telecom equipment. These categories reported a growth of between 9.3 percent and 13.1 percent compared to February.
Overall, the estimated total value of retail sales in March was approximately S $ 3.3 billion. Of these, online retail sales accounted for approximately 8.5 percent.
(Table: SingStat)
THE FOOD SECTOR SEES REJECTION
Safe distancing measures also affected food and beverage services. Compared to the same period last year, sales fell 23.7 percent in March.
On a seasonally-adjusted basis, food and beverage sales decreased 9.6 percent in March compared to February.
The total value of sales of food and beverage services in March was estimated at S $ 678 million. Of these, online food and beverage sales accounted for approximately 15.6 percent.
The turnover of food services and restaurants fell 58.1 percent and 30.3 percent respectively in March compared to the previous year.
READ: Singapore will begin to gradually reduce circuit breaker measures as COVID-19 community cases decline
(Table: SingStat)
Sales in cafes, food courts and other places to eat, and in fast food establishments decreased 14.5 percent and 2.2 percent respectively year-over-year. On a monthly basis, these retail outlets and restaurants posted lower sales of between 1.3 percent and 9.4 percent during this period.
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