Iphone distorts November Singapore retail sales
November Singapore retail sales surged 4.7 per cent in November, a rise heavily underpinned by the launch of the iPhone 8 and iPhone X.
With motor vehicle sales included in the data, sales were up by 5.3 per cent year-on-year.
Compared with October, November Singapore retail sales were up 5.1 per cent, although after removing motor vehicles, the rise was a more modest 2.9 per cent.
After seasonal adjustment, sales of computer and telecommunications equipment soared 46.5 per cent from October to November – a clear indication of the impact of the launch of the new iPhone models. Many consumers from other Southeast Asian nations travelled to Singapore to bulk-buy iPhones for resale in their own markets, where the official release was not scheduled until later.
Year-on-year, computer and telecommunications equipment sales rose 16.6 per cent, while retail sales by supermarkets and petrol service stations, of recreational goods, furniture and household equipment, medical goods and toiletries, by department stores and food retailers, and of apparel and footwear; and watches and jewellery, rose by between 1.7 per cent and 9.7 per cent.
As if to further emphasise the distortion of the November Singapore retail sales by Apple’s products, sales of food and beverages eased 0.1 per cent between October and November and rose a mere 2.1 per cent year-on-year.