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Tag: retail sales

  • Singapore retail sales stabilise

    Singapore retail sales stabilise

    Real Singapore retail sales rose 2.6 per cent in July over June and by 0.8 per cent year on year.

    That’s according to official government data after the sales of motor vehicles are removed from the figures.

    That follows falls of 3.9 per cent and three per cent in June, respectively.

    The total retail sales value in July 2015 was estimated at $3.5 billion, higher than the $3.3 billion in July 2014.

    Singapore retail chart 1509

    Year on year, sales of watches & jewellery fared the best, up 11.7 per cent. Retail sales of medical goods & toiletries, telecommunications apparatus & computers, recreational goods and department stores all rose between three and 10 per cent.

    In contrast, retail sales of petrol service stations decreased 16.4 per cent; sales of furniture & household equipment, optical goods & books, mini-marts & convenience stores, food & beverages, wearing apparel & footwear and supermarkets declined between 0.8 per cent and 5.5 per cent.

    After seasonal adjustment, month on month sales of wearing apparel & footwear, furniture & household equipment, supermarkets and petrol service stations declined between 0.7 per cent and five per cent.

    Watches & jewellery, medical goods & toiletries and recreational goods increased between 10.6 per cent and 13.4 per cent compared to June. Sales of telecommunications apparatus & computers, optical goods & books, food & beverages, mini-marts & convenience stores and department stores rose between 0.7 per cent and 8.2 per cent.

    Singapore retail chart -1509

    Meanwhile, sales of food and beverage services (seasonally adjusted) increased 3.1 per cent in July 2015 over June, but declined one per cent year on year. The total sales value of food & beverage services in July 2015 was estimated at $640 million, lower than the $647 million in July 2014.

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  • Food placed to defy retail downturn

    Food placed to defy retail downturn

    Rising income levels in some of Asia’s fastest growing economies are set to drive solid growth in food retailing according to a report by logistics company DHL.

    While retail sales in many categories in Hong Kong, China, Macau and other parts of Asia are suffering from decline, or at best static growth, food retailers are set for a boom according to independent research commissioned by DHL Hong Kong.

    Some 300 industry decision makers were surveyed in India, Indonesia, Thailand and Vietnam for the report, titled Hungry for Growth: Logistics Trends in Asia’s High-Growth Food Retail Markets.

    It found that one in four of the companies polled expected to grow sales by 10 per cent or more this year – and six in 10 predicted growth of at least six per cent.

    However, the report also found that up to 38 per cent of those surveyed were unaware of their total logistics costs, while 37 per cent lacked any KPIs or formal measurements for their supply chain performance, potentially impacting their ability to keep shelves stocked and orders filled as demand and competitive factors grow increasingly complex.

    “Rapid increases in purchasing power, coupled with surges in demand driven by population growth, will yield obvious expansionary benefits to food retailers,” said Dean Eichorn, VP retail for DHL Supply Chain Asia Pacific.

    “However, any food retailer’s success is ultimately dependent on the agility of their supply chains when faced with demand volatility, seasonal fluctuations, and other complex market factors. Asia’s food retail industry looks set to undergo significant growth in the next year, and only with greater understanding and control of their logistics operations will companies be able to take advantage of new opportunities.”

    The research found that food retailers are increasingly at risk from unpredictability on both demand and supply sides of their operations. In the four countries surveyed, late supplier deliveries were most commonly cited as food retailers’ top concern, while 36 per cent admitted that demand volatility had a major impact on their businesses.

    Issues around supply chain performance and costs varied around the region: fuel, labor, and imbalances between supply and demand ranked amongst retailers’ top cost issues.

    “Many of these concerns are amplified because a large number of food retailers don’t have visibility of their logistics operations, let alone the resources or subject expertise to improve and optimise them,” said Eichorn.

    “Food retailers need reliable, agile supply lines if they’re to focus on their core competencies and compete. This agility only comes from being able to manage the supply chain as an end-to-end process across transport, warehousing, and value-added services in a way that’s rapidly scalable without creating extra complexity.”

    The research also found that more than 60 per cent of food retailers have not outsourced any aspects of their supply chains, suggesting that retailers who actively adopt third-party logistics solutions stand to gain significant first-mover advantages over their competition. Of those surveyed, 44 per cent believe inventory optimisation technologies would be beneficial to their overall performance, while 38 per cent see advanced transport management services, like track and trace, as helping them improve reliability in meeting demand.

    “Asia’s food retailers recognise the need to innovate and change, but the technologies and process transformations required to do so aren’t their domain of expertise, and nor should they be,” said Eichorn.

    “The key to growth and expansion in Asia’s food retail industry, and those of other developing regions where we’re seeing similar trends, will be how effectively operators can take advantage of third-party expertise and managed solutions in everything from technology to end-to-end supply chain management.”

    The DHL report said food retailers in Asia’s emerging markets are headed for a period of significant disruption, driven largely by rapidly growing competition and consolidation both within and between national markets.

    “For the vast majority of those retailers, the strength and agility of their supply chains will make or break how they align customer service to the rising expectations of increasing middle-class consumers, respond to demand and cost fluctuations, and develop new ways to differentiate themselves against increasingly hungry competition,” the report concluded.

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  • As Sales Slump, Hong Kong’s Luxury Jewelers Think Local

    As Sales Slump, Hong Kong’s Luxury Jewelers Think Local

    Hong Kong businesses, which used to focus their advertising predominantly on mainland tourists, are now setting their sights on Hong Kongers themselves in an effort to make up for sluggish sales as cross-border visits are drying up.

    Luxury jewelers such as Chow Tai Fook Jewellery Group Ltd. and Luk Fook Holdings International Hong Kong Ltd. are tapping into the spending power of the city’s seven million residents through promotional offers and special events. Although their stores are seemingly ubiquitous and their advertisements are plastered all over Hong Kong’s busses, they have not always considered the city’s residents their top priority, analysts say.

    “Previously, jewelers took local consumers for granted,” said Emily Huang, consumer analyst at Barclays. “Although locals grew up with the brand, they wouldn’t buy in bulk like Chinese tourists do.”

    The former British colony has long been the favored destination for mainland Chinese consumers looking to purchase everything from Swiss watches to medicinal oils. Industry experts say that in recent years, spending by mainlanders has accounted for as much as 40% of all retail sales in the city.

    But a crackdown on conspicuous consumption has led some mainlanders to hold back on buying luxury goods – and those that do purchase them are instead flocking to places with weaker currencies, such as Europe and Japan, rather than Hong Kong.

    Tighter visa restrictions for visitors from the southern Chinese boomtown of Shenzhen, which neighbors Hong Kong, have also slowed the flow of cross-border visits.

    In July, nearly 10% fewer mainland Chinese tourists traveled to Hong Kong compared with a year earlier, and retail sales by value contracted by 2.8%. Luxury retailers such as Prada and Burberry now report slumping sales, and Coach last month closed its four-story shop in prime Central district.

    The drop has hit luxury jewelers particularly hard: Chow Tai Fook and Luk Fook reported a respective 24% and 19% contraction in same-store sales in Hong Kong for the three months ending in June,compared to a year ago.

    With retail sales continuing to fall and tourist arrivals slowing, the jewelers have had to innovate to stay afloat. Chow Tai Fook is now organizing parades of its products in residential neighborhoods and is hosting events to bring residents into its shops. Luk Fook has begun planning luncheons and fashion shows for repeat buyers and is offering do-it-yourself jewelry sessions for VIP customers.

    The slump is not just affecting luxury stores; several mid-market businesses, including cosmetics retailers and drugstores, have also been shuttered.

    The city’s major theme parks, Ocean Park and Disneyland, are also shifting their tactics, offering discounts to local ID card holders. A spokesperson for Ocean Park billed the theme park as the “Hong Kong people’s park” in a statement — even though 65% of its visitors are tourists. Disneyland says nearly half its visitors are mainland Chinese.

    “A lot of locals actually stopped going [to theme parks] because there were too many tourists,” said Nicole Wong, an analyst at CLSA. “They can definitely do something to attract more locals to go.” She is more skeptical of the ability of jewelry chains and drugstores to draw local customers, however. “Hong Kong people can’t buy that many drugs,” she said.
    The city’s chief executive Leung Chun-ying has also said he is concerned about the drop in visitor numbers and has cast blame partly on “particular activities that have taken place in Hong Kong in the past year.” The city has been rocked by last year’s pro-democracy Occupy Central campaign as well as by ongoing small-scale protests by Hong Kong groups angry at the influx of mainland Chinese shoppers in specific neighborhoods close to the border.It’s unlikely that consumption by the city’s 7 million residents could make up for the more than 47 million Chinese tourists that streamed into Hong Kong in 2014. Local shoppers usually buy diamonds and gold products in small quantities as gifts for special occasions, not in bulk as visitors typically do. “In the short-term, local spending won’t make up (for) the shortfall in mainland spending,” said Helen Mak, senior director at Colliers International. She added: “How many weddings a year can you have?”The jewelers have adopted an additional strategy: Reaching out to mainland consumers on their home turf. Kathy Chan, Luk Fook’s chief financial officer, said the company sees “great potential” in mainland China and is “opening 100 stores there every year.”

    At 0% growth, the mainland operations of Hong Kong jewelers are far from robust. But less penetration and a much larger market mean the possibility for growth is greater, say the companies.

     

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  • China retail sales up 10.8 pct in August

    China retail sales up 10.8 pct in August

    China’s retail sales grew 10.8 percent year on year to 2.49 trillion yuan (390.89 billion U.S. dollars) in August, the National Bureau of Statistics (NBS) said Sunday.

    The growth rate picked up slightly from 10.5 percent in July.

    A key reason for the month-on-month rise in retail sales was rising retail prices, and the August retail sales growth rate is almost the same as in July if one deducts the price factor, said NBS statistician Lin Tao.

    In the first eight months, retail sales grew 10.5 percent.

    Growth in rural areas continued to outpace that in cities.

    Sales in rural areas rose 11.9 percent in August and 11.7 percent in the January-August period, in contrast to the 10.6-percent and 10.3-percent growth seen in urban areas.

    Earnings for catering services in August grew 12.4 percent, 0.2 percentage points higher than July.

    Chinese consumers increasingly favored online shopping. In the first eight months, online sales rose 36.5 percent year on year to 2.24 trillion yuan.

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  • South Korea retail sales easing upwards

    South Korea retail sales easing upwards

    South Korean retailers are breathing a sigh of relief as consumers return to stores in the wake of the MERS scare receding.

    South Korea retail sales rose 0.5 per cent in July to 30.14 trillion won (US$25.6 billion) after receding 0.6 per cent in June.

    Statistics Korea said sales rose month on month as well as year on year.

    “The fallout of the MERS outbreak that caused demand to slump seems to have receded in July, leading to a slight rise in consumer spending,” a spokesman for Statistics Korea said.

    “While things have not returned to normal, sales are rising in areas that were most affected by the outbreak.”

    The MERS outbreak hit in late May. Thirty-six people subsequently died and a further 186 were infected before the outbreak was brought under control and confirmed over by health officials in July.

    The value of online transactions rose by 21.2 per cent, driven by sales of food and cosmetics as cautious shoppers opted to have products delivered rather than visit stores and risk exposure.

    Online shopping accounted for 15.8 per cent total retail sales in July.

    In stores, food and beverage sales rose 3.8 per cent year on year in July and electronics sales by 3.2 per cent. Department store sales rose 0.4 per cent, having fallen 12 per cent in June.

    Sales at convenience stores rose 33.6 per cent and at supermarkets by three per cent.

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  • Hong Kong retail sales remain stagnant

    Hong Kong retail sales remain stagnant

    Falling spending by Mainland tourists and softened consumer sentiment saw lacklustre Hong Kong retail sales in July.

    Data from the Census and Statistics Department (C&SD) showed the total value of retail sales decreased 2.8 per cent year on year. After netting out the effect of price changes over the same period, the volume of total retail sales rose 1.9 per cent year on year.

    Those figures compared with a decrease of 0.4 per cent in revised figures for June and a net increase (after adjusting for price changes) of 4.3 per cent.

    Based on the seasonally adjusted series, the value of total retail sales decreased by 1.4 per cent in the three months ending July 2015 compared with the preceding three-month period, while the volume of total retail sales decreased by 0.9 per cent.

    A government spokesman said retail sales growth in volume terms moderated in July, “partly dragged by the further slowdown in inbound tourism and partly also due to the impact of stock market correction on consumer sentiment”.

    “The near-term performance of retail sales will continue to hinge on inbound tourism growth and on whether there would be any negative spillover from the increased stock market volatility of late. The government will monitor closely how the rapidly changing external environment may affect the retail business going forward,” he said.

    The value of total retail sales in July was provisionally estimated at $37.6 billion.

    For the first seven months of 2015 taken together, the value of total retail sales decreased by 1.8 per cent compared with the same period in 2014. After netting out the effect of price changes for the first seven months, sales increased by 1.7 per cent year on year.

    Analysed by broad type of retail outlet (in descending order of value of sales and comparing July 2015 with July 2014), the value of sales of jewellery, watches and clocks, and valuable gifts decreased by five per cent. This was followed by sales of wearing apparel (-13 per cent), commodities in department stores (-7.3 per cent), medicines and cosmetics (-5.4 per cent), other consumer goods, not elsewhere classified (-8.1 per cent); motor vehicles and parts (-3.2 per cent), fuels (-9.6 per cent); footwear, allied products and other clothing accessories (-7.9 per cent); books, newspapers, stationery and gifts (-6.4 per cent); furniture and fixtures (-8.5 per cent); Chinese drugs and herbs (-6.1 per cent) and optical shops (-5.9 per cent).

    In contrast, the value of sales of commodities in supermarkets increased by 0.4 per cent, of food, alcoholic drinks and tobacco (+7.0 per cent), electrical goods and photographic equipment (+4.9 per cent) and miscellaneous consumer durable goods (+67 per cent).

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  • Hong Kong Retail Sales Growth Slows More Than Expected In July

    Hong Kong’s retail sales growth eased at a faster-than-expected pace in July, preliminary figures from the Census and Statistics Department showed Monday.

    The retail sales volume rose 1.9 percent year-over-year in July, much slower than previous month’s 4.3 percent climb, revised from the 4.4 percent gain reported earlier.

    Economists had expected a 2.8 percent increase for the month. Sales have been rising since February.

    Meanwhile, in value terms, retail sales declined 2.8 percent annually in July, exceeding economists’ expectations for a 1.3 percent drop. In June, sales had fallen 0.4 percent.

    On a seasonally adjusted basis, the value of total retail sales decreased by 1.4 percent in the three months ended July compared with the previous three-month period and the volume of retail sales also fell by 0.9 percent.

    The value of sales of jewellery, watches and clocks, and valuable gifts decreased by 5.0 percent in July from a year ago, while sales of commodities in supermarkets grew by 0.4 percent.

    “Retail sales growth in volume terms moderated in July, partly dragged by the further slowdown in inbound tourism and partly also due to the impact of stock market correction on consumer sentiment,” a government spokesman said.

    “The near-term performance of retail sales will continue to hinge on inbound tourism growth and on whether there would be any negative spillover from the increased stock market volatility of late.”

    “The Government will monitor closely how the rapidly changing external environment may affect the retail business going forward.”

     

  • Courts Asia fortunes improve

    Courts Asia fortunes improve

    Strong sales in Malaysia and Indonesia have buffered electronics and furniture retailer Courts Asia from Singapore’s retail downturn.

    The company has reported a 19 per cent increase in quarterly profit, to S$6 million in the three months to June.

    “Our Malaysia business has seen improving profitability with the success of our credit campaign, whilst the Singapore business is still being impacted by the soft retail environment,” group CEO Terry O’Connor said in the earnings statement.

    The Malaysian success will no doubt surprise shareholders and retail analysts given the nation experienced a sharp downturn in retail sales when the goods and service tax was imposed on April 1.

    “For Malaysia, we remain cautiously optimistic on the medium-term outlook. With the Goods and Services Tax implementation underway for several months now, we expect consumption habits to normalise over the next three to four quarters, though the recent weakening of the ringgit may pose some short-term challenges,” he added.

    The ringgit has slumped from 3.5 to USD1 to 4 in less than six months.

    Malaysia accounts for 35 per cent of Courts’ sales, its Singapore home market 63 per cent.

    Indonesia, accounting for the remaining two per cent, is Courts’ newest market. It has three stores operational now with a fourth due to open by December.

    Looking forwards, O’Connor said he expected consumer sentiment in Singapore to remain subdued over the short term.

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  • 361 Degrees sees fast recovery in China

    361 Degrees sees fast recovery in China

    Chinese sports brand 361 Degrees says its sales and gross margin improved in the first half year to June 30.

    361 Degrees, listed in Hong Kong, operates 7404 retail stores across Mainland China. It says store productivity continued to be a central theme in future profitability.

    “The current store count of outlets is not likely to increase substantially in the foreseeable future as the retail landscape is fast changing with a new generation of consumers adopting different buying habits,” the company said in its half year statement.

    “The group is very much attuned to these developments and has intensified efforts to promote various initiatives in internet and mobile sales. However, the days for the traditional bricks and mortar store are far from over and particularly in our case, where over 70 per cent of our outlets are in the tier-3 and smaller cities, strong local connections with schools and sports clubs are an inherent advantage, especially as increasing numbers turn to sport as a form of recreation and lifestyle.”

    The group reported its turnover improved by 5.7 per cent year on year, and by 22 per cent over the preceding six months, to register RMB2.2 billion. Gross margin gained a further 1.6 percentage points to 41.3 per cent on the back of lower material costs.

    Operating profit reached RMB485.5 million – 34.4 per cent higher than in 2014.

    Ding Wuhao, president and executive director, said 2015 promises to be “a very good year for the group” as the sportswear industry experiences a steady recovery and the 361 Degrees brand gains further acceptance in the market place.

    Footwear turnover rose 16 per cent as a new portfolio of performance products gained a positive reception from retailers. Apparel turnover fell 3.5 per cent because of a higher comparative base, which was boosted by late deliveries in the fourth quarter of 2013. 361° Kids continued to show growth momentum as it differentiated itself from the regional brands.

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  • Li Ning completes resurrection

    Li Ning completes resurrection

    Just a year ago, sports retailer Li Ning seemed down for the count, battling to stem the red ink.  This week it released its half year results to June 30: Revenue rose 16 per cent and it has finally returned to profit.

    The once beleaguered Chinese sports brand – which peaked in brand awareness about the time of the Beijing Olympics in 2004 – has recovered its mojo: Sales are up, it is expanding its store network once more, all the result of a root and branch review of the whole business, from the way it sources and designs products to the way it operates its stores and how it disposes of end of season stock.

    Li Ning has recorded total sales of RMB 3.641 billion – about US$567.5 million. Its profit may have been a modest RMB 260 million (US$40.5 million), but this year both profit and cashflow turned positive. In the same six months last year, Li Ning lost RMB 350 million, or US$54.6 million at today’s exchange rate.

    Significantly, the second quarter was a better one for the business than the first. Li Ning says same store sales in retail registered growth in the high teens on a year on year basis. “The entire store network registered low teens year on year growth,” the company said.

    As at the end of June, Li Ning had 5745 stores, including flagships, conventional stores, factory outlets and discount stores – 119 more than six months earlier.

    During the first half the company “vigorously implemented clearance of obsolete inventory,” optimizing its stock structure to lay a solid foundation for the growth in the second half of the year and into the next.

    Li Ning has also approached senior management of nine leading shopping mall groups in China – including Parkson, Bailian, Grandbuy, RT-Mart, Rainbow and Maoye – to discuss partnerships and expansion plans.

    “In 2015, we have opportunities for opening over 100 new points of sale and renovating over 30 [more] in the premises of these groups,” the company said in its trading results overview.

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  • Singapore economy grows by 1.8% in Q2

    Singapore economy grows by 1.8% in Q2

    Singapore’s Ministry of Trade and Industry (MTI) announced on Tuesday that the Singapore economy grew by 1.8 per cent on a year-on-year basis in the second quarter, slower than the 2.8 per cent growth in the previous quarter.

    On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 4.0 per cent, a reversal from the 4.1 per cent growth in the preceding quarter.

    The manufacturing sector contracted by 4.9 per cent year-on-year, extending the 2.4 per cent decline in the previous quarter. The sector was primarily weighed down by declines in the output of the biomedical manufacturing and transport engineering clusters.

    The construction sector expanded at a faster pace of 2.5 per cent year-on-year, supported by a pick-up in public sector construction works, compared to the 1.1 per cent in the previous quarter.

    The wholesale & retail trade sector grew by 5.0 per cent year-on-year, slightly slower than the 5.3 per cent expansion in the previous quarter. Growth was driven by both the wholesale trade and retail trade segments, with the latter being supported in turn by robust motor vehicle sales.

    The accommodation & food services sector contracted at a faster pace of 0.6 per cent year-on-year compared to the 0.1 per cent decline in the previous quarter. The slowdown in the sector was largely due to sluggish performance in the food & beverage segment.

    The finance & insurance sector posted growth of 7.1 per cent year-on-year, extending the 7.8 per cent growth in the previous quarter. Growth was largely underpinned by the fund management segment.

    The information & communications sector grew by 4.5 per cent year-on-year, moderating from the 4.9 per cent growth in the previous quarter. Growth was mainly driven by the IT & information services segment.

  • Korean retail sales recover post MERS

    Korean retail sales recover post MERS

    Korean retail sales are returning to normal as the impact of the MERS outbreak fades.

    Data released by South Korea’s finance ministry shows combined sales at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co rose 0.9 per cent in July, year on year.

    That contrasts with a drop of 11.9 per cent in June, as shoppers stayed home to avoid possible exposure to the Middle East Respiratory Syndrome (MERS) virus.

    South Korea’s government has officially declared the MERS outbreak over.

    Sales at major discount store chains also improved, but still recorded a year on year decline. In July they fell 1.9 per cent which compares favourably with a fall of 10.2 per cent in June.

    In its statement, the ministry said while consumption was showing signs of a recovery, there was “insufficient” improvement in the service industry.

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  • Mers outbreak dents Korea retail sales

    Mers outbreak dents Korea retail sales

    South Korea retail sales slipped in June – a predictable result of the outbreak of Middle East Respiratory Syndrome (Mers).

    As South Korea’s shunned larger retail outlets to reduce the risk of potential exposure to the illness, discretionary spending fell. Some spending on essential goods moved online.

    South Korea’s government agency Statistics Korea says retail sales in June were worth 29.34 trillion won, about US$25.15 billion, which was 0.6 per cent lower than in the same month last year. It was more than 2 trillion won less than May’s spending.

    “The Mers outbreak caused shoppers to shy away from large markets where people converge, which effectively hurt overall sales,” a Statistics Korea spokesman said.

    However, last week the government officially declared May’s outbreak to be over, after 186 infections and 36 fatalities.

    A breakdown of the figures shows the fall in sales affected mostly categories where shopping could be postponed – appliances and computers were down 5.7 per cent year on year and clothing down nearly 10 per cent.

    Department store sales fell 12.4 per cent and discount department store sales down 9.5 per cent.

    Online spending rose 26.6 per cent in May, while convenience store sales soared 34.6 per cent and supermarket sales rose 4.4 per cent.

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  • Hong Kong retail sales stable

    Hong Kong retail sales stable

    Hong Kong retail sales are not as depressing as many luxury retailers would have us believe.

    Figures for June released unusually late in the day on Friday show a year on year decrease of just 0.4 per cent, a figure low enough to adjust the first half year’s sales slippage to just 1.6 per cent – from the 2.3 per cent for the first four months.

    But take the effect of inflation out of the equation, and the territory’s retail sales increased by 4.4 per cent in June 2015. In volume terms, sales rose 4.7 per cent in the month, and for the first half of the calendar year are up by 4.7 per cent.

    Basically, it is the luxury sector – high end fashion, watches and jewellery – which is suffering the most. For most other retailers, there’s nowhere near the same level of decline.

    A Census and Statistics Department (C&SD) spokesman indicated that retail sales volume grew moderately further in June over a year earlier.

    “The fall in the sales of jewellery, watches and clocks, and valuable gifts narrowed, while retail outlets selling certain consumer durable goods registered visible growth in sales.”

    But the C&SD spokesman maintained a conservative outlook for the remainder of the year.

    “Looking ahead, the near-term performance of retail sales is still subject to uncertainties, depending on inbound tourism growth and any spillover to consumption sentiment from the recent stock market volatility.

    “Nevertheless, the stable job and income conditions should provide some support. The Government will monitor closely how these factors, as well as the various uncertainties in the external environment, would affect the retail business going forward,” he said.

    By broad retail category, and in descending order of value of sales, the value of sales of jewellery, watches and clocks, and valuable gifts decreased by 10.4 per cent in June 2015 compared with a year earlier.

    This was followed by sales of commodities in supermarkets (down 0.5 per cent), wearing apparel (down 3.8 per cent), commodities in department stores (down 3.3 per cent), medicines and cosmetics (down 4.2 per cent), footwear, allied products and other clothing accessories (down 8.4 per cent), furniture and fixtures (down 3.7 per cent), books, newspapers, stationery and gifts (down 9.5 per cent) and Chinese drugs and herbs (down 4.2 per cent).

    On the other hand, the value of sales of electrical goods and photographic equipment increased by 21.4 per cent in June 2015 compared with a year earlier. This was followed by sales of food, alcoholic drinks and tobacco (up 3.6 per cent) and optical shops (up 0.4 per cent).

    Based on the seasonally adjusted series, the value of total retail sales decreased by 4.4 per cent in the second quarter of 2015 compared with the preceding quarter, while the volume of total retail sales decreased by three per cent.

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  • Strong Vietnam retail sales growth

    Strong Vietnam retail sales growth

    Vietnam retail sales growth reach 8.3 per cent in the first half of this year, according to government data.

    In the first seven months of this year, the private sector accounted for 85.6 per cent of total retail sales, earning $73.4 billion or a year-on-year increase of 9.5 per cent, according to the Vietnam News Service..

    Vu Manh Ha of the General Statistics Office, says the nation’s retail sales stabilised during the first quarter. Sales rose eight per cent in the first four months, 8.2 per cent in the first five months and 8.3 in the first six.

    He attributed the stabilisation in the growth rate to a low increase in the Consumer Price Index.

    Total retail sales reached US$85.8 billion.