Taipei--The monthly sales of the local retail and food & beverage sectors hit new highs in January on heavy consumer spending before and during the six-day Lunar New Year holiday that began on Jan. 27.
Wholesale sector sales trended lower year-on-year in January, however, sales of machinery and household appliances and equipment fell because of the reduction in business days caused by the holiday, Ministry of Economic Affairs (MOEA) data showed.
According to MOEA data, retail sector sales rose 3.9 percent in January from a year earlier to NT$377.4 billion (US$12.33 billion) as department stores, supermarkets, convenience stores and hypermarkets all posted double-digit sales increases.
Department store sales rose 10.5 percent from a year earlier to NT$30.2 billion, supermarket sales were up 10.9 percent to NT$17.9 billion, convenience store sales rose 10.5 percent to NT$27.7 billion, and hypermarket sales were up 14.2 percent to NT$23.1 billion, MOEA data showed.
Fuel suppliers benefited from an increase in gasoline and diesel prices during the month to post a 25.9 percent year-on-year rise in sales to NT$20.7 billion, while sales of fabrics, apparel and accessories rose 6.7 percent to NT$28.7 billion.
Information and home appliance retailers, however, saw sales fall 3.8 percent year-on-year in January, while drug and cosmetics retailers recorded a 7.4 percent increase in revenue, the data indicated.
The MOEA said sales of the local food and beverage sector rose 10.5 percent in January from a year earlier to NT$41.5 billion as many companies held year-end banquets prior the holiday and consumers spent freely on pre-prepared dishes for the traditional Lunar New Year's Eve dinner.
Within the sector, the restaurant business had sales of NT$35.6 billion, up 11.2 percent from a year earlier, while beverage business sales rose 8.3 percent from a year earlier to NT$4.3 billion.
The wholesale sector, meanwhile, suffered a 0.8 percent year-on-year decline in sales in January to NT$798.4 billion, the MOEA said.
In addition to the fewer working days in the month, some Japanese vendors closed or downsized their businesses in January, dealing the wholesale sector an additional blow, the MOEA added.
Wholesale sales of machinery fell 3.1 percent year-on-year in January and sales of home appliances and equipment were down 3.4 percent from a year earlier, the ministry said.
Source: Focus Taiwan News Channel