Revenue in the retail sector grew 5.4 percent year-on-year last month to NT$343.4 billion (US$11.4 billion), data published by the Ministry of Economic Affairs showed yesterday.
Sales of general merchandise, which account for 32.96 percent of the retail sector’s overall revenue, increased 5.4 percent year-on-year to NT$113.2 billion, propelled by sales at department stores, which rose 7.1 percent, the ministry said in a report.
“Department stores reported a boom in sales of luxury goods last month,” Department of Statistics Deputy Director-General Wang Shu-chuan (王淑娟) told a news conference in Taipei, adding that the increase is generally more reflective of concentrated wealth instead of a hike in average wages.
The retail sector was also bolstered by strong automobile sales, which surged 12.7 percent year-on-year to NT$57.5 billion, the ministry said.
“Demand for cars and scooters is as high as ever, thanks to automakers launching new models,” Wang said, adding that Taiwanese have displayed an unwavering interest in electric scooters.
While it remains to be seen whether the nation’s healthy appetite for vehicles reflects an improved economic outlook, Wang said automobile sales are expected to keep growing this month as the Lunar New Year at the end of next month ushers in potential buyers.
E-commerce and catalog sales rose 16.5 percent year-on-year to NT$23.8 billion last month, backed by the Singles’ Day, or Double 11, shopping holiday, the report said.
Retail sector sales are predicted to grow by 2 to 5 percent year-on-year this month, the report said.
Revenue in the food and beverage sector increased 5.7 percent annually last month to NT$63.7, driven by restaurant sales of NT$52.3 billion, a 6.3 percent year-on-year increase, it said.
Sales at restaurants are expected to continue the positive momentum this month as companies throw end-of-year banquets, it said.
However, sales in the food and beverage sector might fall 2 percent or rise only 1 percent this month due to a high comparison base last year, the ministry said.
Wholesale sector revenue decreased 2.5 percent year-on-year to NT$860.7 billion last month, the report showed.
Dragged by a 9.4. percent sales contraction in the construction materials industry to NT$91.8 billion, the wholesale sector’s fall was nevertheless cushioned by hefty automobile sales, which grew 10 percent year-on-year to NT$75.7 billion in that sector.
As demand for electronic components improves, spurring sales of chips and DRAM, overall revenue in the wholesale sector is expected to increase by 0 to 3 percent year-on-year this month, the ministry said.
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