F&B gross sales up 21.8% YoY in January

The Chinese language New 12 months birthday celebration in part contributed to the rise in gross sales.

The gross sales in Singapore’s meals and beverage (F&B) products and services sector rose 21.8% year-on-year (YoY) to round $1b in January 2023, in part because of the birthday celebration of the Chinese language New 12 months through the top of the month.

Knowledge from the Division of Statistics Singapore confirmed that of the entire gross sales, on-line F&B products and services accounted for 23.3%, fairly not up to the 23.4% in December 2022.

All F&B products and services industries sector posted growths led through meals caterers with 110.2% enlargement because of the call for for each tournament and in-flight catering with the easing of restrictions on large-scale occasions, world shuttle, and social gatherings.

Gross sales in eating places had been up through 21.7% YoY, adopted through rapid meals retailers at 18.7%, and cafes, meals courts & different consuming puts (11.5%).

On a seasonally adjusted foundation, the dep. stated the gross sales rose 2% in comparison to the former month. 

Eating places (6.5%), cafes, meals courts & different consuming puts (0.6%), and rapid meals retailers (0.4%), posted month-on-month will increase on a seasonally adjusted foundation, while the meals caterers sector dipped 7.7%.