Retail sales rose 4.8 percent year-on-year and 8.7 percent month-on-month to NT$342 billion (US$11.67 billion) last month, the sector’s best March performance, amid less stringent COVID-19 restrictions and Mother’s Day sales promotions, the Ministry of Economic Affairs said on Monday.
The growth was also due to strong sales of luxury goods, new smartphone launches and higher fuel prices, the ministry said.
Department store chains generated NT$29.4 billion in sales, up 12.1 percent from a year earlier, while supermarket sales rose 9.7 percent to NT$19 billion, hypermarket sales increased 5 percent to NT$18.6 billion and convenience store sales grew 1.7 percent to NT$30.5 billion, ministry data showed.
Photo: CNA
Online retail sales also increased last month, rising 9.8 percent from a year earlier to NT$32.1 billion, although auto industry revenue dropped 9 percent to NT$57.8 billion, the data showed.
In the first quarter, retail sales grew 3.9 percent from a year earlier to NT$1.05 trillion, a record for the period, the ministry said, adding that this month, retail sales are forecast to rise between 0.8 percent and 3.8 percent annually to between NT$331.2 billion and NT$341 billion.
Sales in the local food and beverage sector last month grew 6.8 percent annually, but dropped 3 percent monthly to NT$69.7 billion as people used Quintuple Stimulus Vouchers ahead of their expiration this month, the ministry said.
Restaurant sales rose 6.5 percent year-on-year to NT$58.0 billion and beverage shop revenue increased 7.2 percent to NT$9.1 billion, while catering services posted a 12.1 percent jump in sales to NT$2.5 billion as airlines aggressively expanded their network of caterers, the data showed.
The food and beverage sector in the first quarter recorded sales of NT$217.4 billion, up 4.9 percent from a year earlier.
The sector’s sales are expected to increase between 0.1 percent and 3.1 percent annually to between NT$65.9 billion and NT$67.9 billion, the ministry said.
Wholesale sales expanded 12.9 percent annually and 33.4 percent monthly to NT$1.15 trillion last month, benefiting from capacity expansion at semiconductor companies and strong steel demand overseas, as well as demand for pharmaceuticals amid an increase in COVID-19 cases, the ministry said.
The sector’s sales in the first quarter were NT$3.14 trillion, up 11.2 percent from a year earlier, the strongest first-quarter figure on record, it said.
Wholesale sales this month are expected to rise between 4.7 percent and 7.7 percent annually to between NT$1.05 trillion and NT$1.08 trillion, it added.
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