[SINGAPORE] Retail sales rose 0.7 per cent in August, down from July’s 1.3 per cent growth and well below private-sector economists’ expectations, data from the Singapore Department of Statistics showed on Monday (Oct 5). 

According to a Bloomberg poll, economists had forecast a median 2 per cent growth. 

Year on year, most retail sectors recorded growth in sales. The increase was led by cosmetics, toiletries and medical goods, and computer and telecommunications equipment. 

Excluding motor vehicles, parts and accessories, retail sales increased 1.6 per cent, up marginally from July’s 1.3 per cent growth.

On a seasonally adjusted, month-on-month basis, retail sales fell 1 per cent in August, reversing the previous month’s 0.6 per cent expansion.

Excluding motor vehicles, parts and accessories, retail sales inched up 0.6 per cent on the month, compared with July’s 0.4 per cent expansion.

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The more difficult question is what physical retail provides that an app cannot – and how to make that value commercially viable.The freehold mall’s current net lettable area is nearly 76,660 sq ft.Across all retail sales categories in August:Year on year: 0.7 per centYear on year, excluding motor vehicles, parts and accessories: 1.6 per centMonth on month, seasonally adjusted: -1 per centMonth on month, seasonally adjusted, excluding motor vehicles, parts and accessories: 0.6 per centTotal retail sales value: S$4.5 billionYear on year, sales grew in eight of the 14 categories:Cosmetics, toiletries and medical goods: 11.2 per centComputer and telecommunications equipment: 10.7 per centRecreational goods: 4.3 per centPetrol service stations: 3.2 per centDepartment stores: 1.6 per centSupermarkets and hypermarkets: 1.6 per centFurniture and household equipment: 1.1 per centWearing apparel and footwear: 0.7 per centThese categories posted a decline:Motor vehicles, parts and accessories: -4.6 per centOthers: -4.3 per centWatches and jewellery: -2.7 per centFood and alcohol: -1.1 per centMinimarts and convenience stores: -0.6 per centOptical goods and books: -0.5 per centF&B services growthYear on year: -1.6 per centMonth on month, seasonally adjusted: 1.5 per cent

The segments within the F&B sector posted mixed performance year on year:

Fast-food outlets: 7.8 per centFood caterers: 2.9 per centRestaurants: -2.1 per centFood courts and other eating places: -4.8 per centCafes: -5.3 per cent