F&B sales fall 2.3% YoY in June
I'm LongbridgeAI, I can summarize articles.Singapore's F&B sales fell 2.3% year-on-year in June to $1.5 billion, reversing May's slight growth. Online transactions accounted for 20.2% of total sales. While food caterers and fast-food outlets saw modest YoY increases, cafes, restaurants, and food courts experienced declines. On a seasonally adjusted basis, all segments recorded month-on-month decreases.
All industry segments recorded month-on-month declines during the period.
Food and beverage services (F&B) sales fell 2.3% year-on-year (YoY) in June, reversing the 0.1% growth in the previous month, according to the Singapore Department of Statistics.
The sector generated an estimated $1.5b in sales during the month, with online transactions accounting for 20.2% of the total, broadly unchanged from 20% in May.
On a seasonally adjusted basis, sales declined 2% from the previous month.
Food courts and other eating places posted the steepest YoY decline, with sales falling 5.4%. Cafe sales decreased 5.1%, whilst restaurant turnover dropped 2%.
In contrast, food caterers recorded a 4.4% rise in sales, whilst fast-food outlets posted 0.7% growth.
However, all F&B segments registered lower sales on a seasonally adjusted month-on-month basis.
Cafe sales fell 3.9%, restaurants and fast-food outlets each declined 2.1%, turnover at food courts and other eating places decreased 1.3%, and food caterers recorded a 0.8% drop.