Retail sales dropped 8.6% to $3.1b in February

Submitted By:  Clarist Zablan Case Study:  No Industries selling discretionary items were affected by a decline in tourist arrivals. Retail sales fell 8.6% YoY and 8.9% MoM to $3.1b in February, according to data from the Department of Statistics (SingStat). Excluding motor vehicles, retail sales fell 10.2% YoY. This was mainly attributed to larger declines in retail industries selling discretionary items, due to the decline in tourist arrivals and lower domestic consumption as a result of the COVID-19 outbreak. read more