Home Retail Fewer holidays this month to hit domestic retail

Fewer holidays this month to hit domestic retail

by Ozva Admin
  • By Chen Cheng-hui / Staff Reporter

Sales at domestic retailers are expected to fall due to fewer holidays this month after sales rose 7.7 percent on a month last month, the Ministry of Economic Affairs said on Wednesday.

Retail sales rose to NT$380.7 billion (US$12.32 billion) last month, from NT$352.4 billion in September, ministry data showed.

The ministry attributed last month’s sales growth to department stores as well as apparel retailers, where sales rose 47.2 percent and 19.8 percent on a month respectively, due to the recovery. of consumer traffic and the anniversary sales campaigns of department stores.

Photo courtesy of Shin Kong Mitsukoshi Department Store

Another driving force was sales of housewares and appliances, which rose 19.4 percent on the month thanks to special sales promotions, he said.

Sales of cars, motorcycles, auto parts and auto accessories fell 1.5 percent on month last month, while hypermarkets and suppliers of cosmetics and pharmaceuticals posted falls of 2.4 percent and 4.7 percent. percent, respectively, the data showed.

On an annual basis, domestic retailers’ sales rose 2.1 percent last month, moderate from a 7.8 percent rise in the previous month, the ministry said.

The annual growth rate is likely to be stable this month, as the momentum of the consumption recovery could be offset by a relatively high comparison to November last year, when the government used the Five-Fold Stimulus Vouchers to boost consumption. internal, he said.

In the first 10 months of the year, retail sales increased 7.9 percent on-year to NT$3.49 trillion, the highest level recorded in the same period, the ministry said.

Retail sales this month are expected to decline 1 to 2 percent on a yearly basis to NT$373.4 billion to NT$384.9 billion, it said.

Food and beverage sales are expected to continue growing this month as the number of people eating out increases and the demand for catering and banquet services grows steadily as the COVID-19 situation stabilizes in Taiwan, the ministry said.

Sales expanded 6.7 percent on-month and 13.8 percent on-year to NT$76.9 billion last month, it said.

Data from the ministry showed restaurant sales rose 13.5 percent and beverage outlets reported a sales advance of 11.7 percent from a year earlier, while catering service providers benefited. of relaxed border controls, leading to a 27.2 percent increase in sales last month.

In the first 10 months of the year, sales of food and beverages grew 20.3 percent a year to NT$702.5 billion, also the highest in the period, the data showed.

Sales in the food and beverage sector are expected to grow 13.3 to 16.3 percent to around NT$76 billion to NT$78 billion this month, the ministry said.

However, the ministry expects the growth momentum in the wholesale sector to weaken further this month, as inventory adjustments at companies and weakening end-market demand could affect sales of new electronic devices and technologies. emerging.

Sales in the sector last month rose 4.3 percent to NT$1.06 trillion on an annual basis, marking the 24th consecutive month of expansion. In the first 10 months, sales rose 6.9 percent to NT$10.65 trillion, the data showed.

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