Retail, food and beverage sales post record March

Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday.

Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report.

The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day and Mother’s Day promotions, as well as replacement demand for energy-saving home appliances, while the latter would be supported by the launch of new brands and products, as well as the opening of new outlets, the ministry said.

The wholesale sector is also predicted to report sales growth for another month on an annual basis, thanks to the market’s continued interest in AI applications, coupled with the recovery of overseas shipments and stabilizing domestic demand, it added.

Last month, the retail sector’s sales were NT$373 billion (US$11.44 billion), driven mainly by higher sales at e-commerce sites, department stores, apparel shops, cosmetics outlets, supermarkets and convenience stores, offsetting slowing consumption of vehicles and auto components, the report said.

In the first three months of this year, retail sales totaled NT$1.14 trillion, up 3.1 percent from a year earlier and hitting the highest firstquarter sales ever, ministry data showed.

Sales in the food and beverage sector reached NT$87.5 billion last month, as robust demand for in-flight meals boosted sales of catering service providers, while business gatherings, tourist arrivals, new store openings and renewed promotions continued to benefit restaurants and beverage stores, the report said.

In the first three months, food and beverage sales rose 8.1 percent year-on-year to a record NT$275.9 billion, it said.

The wholesale sector’s sales growth returned to positive territory last month thanks to an increase in demand for machinery equipment, despite lackluster demand for building materials, food and tobacco products, and household appliances, the report said.

Sales last month were NT$1.07 trillion, the second-highest for the month of March, while cumulative sales in the first three months grew 7.5 percent to NT$3.01 trillion, it said.