Singapore Retail Sales Growth at 18-Month High

Retail sales in Singapore fell 0.4% year-on-year in January 2026, reversing a downwardly revised 2.5% rise in the previous month and marking the lowest level since February 2025. The decline was broad-based, with department stores (-12.3% vs -3% in December), petrol service stations (-9.7% vs -9.1%), wearing apparel and footwear (-12.9% vs -2.1%), and others (-14.9% vs -10.2%) among the hardest hit. Sales also fell in supermarkets and hypermarkets (-9.7% vs 3.7%), mini-marts and convenience stores (-2.7% vs 6.7%), and cosmetics, toiletries, and medical goods (-0.4% vs 0.2%), reversing gains from the previous month. Moreover, sales growth in computer and telecommunication equipment moderated to 14.1% from 18.8%. On a seasonally adjusted monthly basis, retail sales rose 6.1% in January, recovering from a revised 2.7% decline in December, marking the highest level since March 2022.

Retail sales in Singapore rose by 2.7% year-on-year in December 2025, slowing from a downwardly revised and near two-year high of 6.2% gain in the previous month. This marked the weakest growth since September 2025, as sales growth moderated across several categories, including supermarkets and hypermarkets (4% vs 6.8% in November), minimarts and convenience stores (4.9% vs 8.9%), cosmetics, toiletries and medical goods (0.2% vs 12%), recreational goods (13.4% vs 14%), watches and jewelry (7.1% vs 10.9%), and optical goods and books (1% vs 5.1%). In addition, sales slipped for department stores (-1.7% vs 2.6%) and wearing apparel and footwear (-1.8% vs 6.3%), while declines deepened for food and alcohol (-7.1% vs -3.2%) and petrol service stations (-9.1% vs -6.7%). On a seasonally adjusted monthly basis, retail sales tumbled to 5.4%, from a revised 0.2% fall in November, marking the steepest decline since May 2021.

Retail sales in Singapore increased by 6.3% year-on-year in November 2025, accelerating from a downwardly revised 4.4% gain in the previous month and marking the strongest growth since February 2024. Sales rose at a faster pace for motor vehicles (10.4% vs 9.7% in October), supermarkets and hypermarkets (6.8% vs 3.6%), mini-marts and convenience stores (9.2% vs 3.3%), and cosmetics, toiletries, and medical goods (11.4% vs 8.0%), while rebounding for department stores (2.1% vs -1.7%). Meanwhile, sales growth eased for watches and jewellery (13.1% vs 25.0%), recreational goods (13.9% vs 20.4%), and optical goods and books (3.5% vs 6.6%). In addition, sales declined at a softer pace for food and alcohol (-3.1% vs -5.8%) and petrol service stations (-6.7% vs -17.0%). On a seasonally adjusted monthly basis, retail sales were unchanged in November, after rising 2.3% in October.