Retail sales last month rose 1.4 percent year-on-year to NT$445.9 billion (US$14.16 billion), a record high for the month of November, and up 6.5 percent from the previous month, government data released yesterday showed.
It came as department stores’ anniversaries, Double 11 Singles’ Day and Black Friday shopping promotions, as well as the government’s universal cash handout, boosted spending in the run-up to the holiday season, the Ministry of Economic Affairs said in a report.
Last month’s sales growth slowed from a 1.9 percent annual increase the previous month, but still met the ministry’s forecast, which projected that retail sales would range from an annual decline of 1.3 percent to an annual increase of 1.7 percent.
Photo: Liao Yao-tung, Taipei Times
Excluding sales of motor vehicles and auto parts, which fell for the ninth consecutive month last month, retail sales rose 3.3 percent from a year earlier, the data showed.
Last month, spending at department stores increased 7.1 percent, 11.6 percent at big-box stores, 6.6 percent at supermarkets and 5.1 percent at convenience stores, the ministry said.
Sales at fabric and clothing stores rose 6.7 percent, 5.9 percent at electronics stores and home appliance outlets, and 1.1 percent at e-commerce and mail-order operators, it said.
However, sales fell 7.8 percent at auto dealers and 3.6 percent at furniture retailers, as consumers remained less willing to make big-ticket purchases, while sales at fuel stations dropped 6.6 percent due to falling oil prices, the ministry said.
In the first 11 months of the year, retail sales decreased 0.3 percent year-on-year to NT$4.41 trillion, it said.
Food services sales last month rose 2.8 percent annually to NT$88.4 billion, also a record high for the month of November, meeting the ministry’s forecast of a 1.8 to 4.8 percent increase, separate ministry data showed.
The data confirmed that market demand remained robust, as lower temperatures boosted consumption of hot pot meals and hot drinks, department store anniversary events increased food court sales and the government’s universal cash handouts encouraged more families to dine out, the ministry said.
Restaurants reported that sales grew 1.9 percent last month, while beverage outlets reported an 8.1 percent rise in sales and catering service providers’ sales rose 3.6 percent due to steady demand for in-flight meals amid a travel boom, it said.
Food services sales in the first 11 months increased 3.2 percent year-on-year to NT$972 billion, the highest for the period, the ministry said.
The ministry said it expected that the retail and food services sectors would this month continue posting annual sales growth, citing the Christmas and New Year holidays, coupled with the government cash handouts and commodity tax breaks.
Retail sales this month are projected to show an annual increase of 0.3 to 3.3 percent, reaching NT$435.3 billion to NT$448.4 billion, the ministry said.
The retail sector experienced two consecutive quarters of negative growth in the second and third quarters, but is poised to recover in the fourth quarter, with sales projected to increase by 1.2 to 2.2 percent from a year earlier to between NT$1.3 trillion and NT$1.31 trillion, it said.
The sector’s full-year sales could be flat or drop 0.3 percent from last year, reaching between NT$4.84 trillion and NT$4.85 trillion, it added.
Sales in the food services sector this month are expected to show an annual increase of 0.5 to 3.5 percent to a range between NT$96.5 billion and NT$99.3 billion, and are expected to grow 3.9 to 5 percent to between NT$274.3 billion and NT$277.2 billion this quarter, the ministry said.
Sales for the whole year could increase 3 to 3.2 percent to between NT$1.069 trillion and NT$1.071 trillion, it said.
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