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Tag: accelerated

  • Singapore’s Retail Boom: Surging Petrol Prices Fuel Accelerated Growth in April

    Singapore’s Retail Boom: Surging Petrol Prices Fuel Accelerated Growth in April

    In April, Singapore’s retail sales growth accelerated, with most sectors, especially petrol service stations, experiencing significant advancements.

    The Department of Statistics reported a 4.5% rise in retail sales, excluding motor vehicles, parts, and accessories. This increase builds upon the revised 3% growth seen in March. The estimated total value of retail sales touched SG$3.6 billion (US$2.8 billion), with online sales accounting for 18.2% of this figure. On a seasonally adjusted basis, retail sales in April increased by 0.4% compared to the previous month.

    Strong Sector Performances Drive Growth

    The surge in April’s retail sales was fueled by robust performances across most sectors. Petrol service stations observed a substantial year-on-year growth of 14.4%, primarily attributable to increased fuel prices resulting from the Middle East conflict. The recreational goods sector followed closely, registering a sales growth of 12.3%.

    Several other sectors, including apparel and footwear, cosmetics and toiletries, supermarkets and hypermarkets, and optical goods and books, also posted robust improvements, with growth figures ranging between 5% and 8%.

    Conversely, department stores and food and alcohol retailers experienced a slight dip in sales, recording declines of 1.1% and 0.1% respectively.

    Moderate Increase in Food and Beverage Services

    In the food and beverage services sector, sales marginally increased by 0.4% in April, showing a slowdown from the 2.3% growth observed in March. The total sales value of food and beverage services was estimated at SG$1.5 billion, with nearly one-fifth of this amount generated from online sales.

    Questions & Answers

    Which sector experienced the most significant growth in retail sales in Singapore in April?
    The petrol service stations sector saw the most substantial growth, with a year-on-year increase of 14.4%.

    What were the total estimated retail sales in Singapore in April?
    The total estimated retail sales value in Singapore in April was SG$3.6 billion (US$2.8 billion).

    How did the food and beverage services sector perform in Singapore in April?
    The food and beverage services sector saw a moderate increase in sales of 0.4% in April.

  • Ericsson launches Accelerated Network Build

    Ericsson launches Accelerated Network Build

    Ericsson has launched a new solution the company said will allow operators to cut network build time in half.

    The new Accelerated Network Build process incorporates a series of technical innovations, including a cloud-based toolkit with automation functionality, to streamline the rollout process.

    Pilots with operators in developed and emerging markets indicate that Accelerated Network Build can cut build time by 50%, reduce the number of required site visits by 70% and offer 99% first-time-right delivery, Ericsson said.

    With 5G uptake expected to significantly outpace previous generations, operators will be under pressure to rapidly deploy networks to meet demand. Ericsson’s Mobility Report predicts that there will be over 500 million 5G subscriptions by the end of 2022.

    “”Fast time to revenue and reduced cost is a must have right now – it’s a pain point for operators that needs to be solved with innovation, Technology Business Research executive analyst Michael Sullivan-Trainor said.

    “New technologies are going to make things even more complex and it’s very timely that Ericsson is addressing how to fix the infrastructure deployment model now, both for today and for tomorrow when 5G and the Internet of Things will come.”

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