Sales of home-furnishing products in Singapore have more than doubled in the two months spanning 1 February to 31 March.
Data from fintech research firm Revolut suggests the 105 per cent increase in sales has been brought on by Singaporeans setting up home offices in response to the coronavirus outbreak. Furniture retailers Courts saw growth of 92 per cent during the period, whilst competitor Ikea experienced 128 per cent growth.
Work-at-home arrangements have also seen a rise in sales of stationery and school supplies by 15 per cent, while spending on entertainment has increased 55 per cent, largely due to purchases of digital goods on platforms such as Steam games (104 per cent) and Nintendo (82 per cent).
“It is likely that the worldwide coronavirus pandemic has had a significant impact on the increase in online activity and transactions overall,” read a report from the firm, “as many more people find themselves at home”.
Other significant sales data revealed by Revolut shows increases in do-it-yourself spending (44 per cent); local e-commerce (35 per cent) and in-store transactions (30 per cent) in March; and online food delivery (150 per cent).
