Retail sales fell 6% in June

  • Sales slump: retail sales volume has fallen for 15 of the last 16 months. The June decrease of 6 per cent comes a year after a 9.1 per cent fall for the same month in 2018 (Graph by Scott Neil)

    Sales slump: retail sales volume has fallen for 15 of the last 16 months. The June decrease of 6 per cent comes a year after a 9.1 per cent fall for the same month in 2018 (Graph by Scott Neil)


The volume of retail sales fell in June by 6 per cent in volume when compared to a year ago.

The fall is all the more striking as June 2018 saw the biggest drop in retail sales volume — at 9.1 per cent — of the past four years.

The figures are inflation adjusted. In June the retail sales rate of inflation was 0.7 per cent. It is the fifteenth month out of the last 16 that has seen retail sales fall.

Six of the seven retail sectors recorded lower sales volumes with apparel stores the biggest faller, down 16.8 per cent.

Building material stores recorded a 12.3 per cent contraction in the volume of sales, motor vehicle stores and “all other store types” were both 7.8 per cent lower, while liquor store sales dropped 13.5 per cent, and food sales were down 2.8 per cent.

However, sales at service stations were up 0.5 per cent.

Lorraine Shailer, co-chair of the retail division of the Bermuda Chamber of Commerce, said: “These figures continue to confirm what has been clear for some time now, that the retail industry is certainly struggling. Online shopping, changes in our customers shopping habits, needs and demands, declining population, the high cost of doing business and living in Bermuda are all contributing factors.

“Many retailers realise that there needs to be changes to their retail models in order to survive, but how these changes are made, in an already struggling business are challenging.”

She added: “The conversations that are held at our Retail Division meetings, certainly indicate a want and a determination to survive and keep the 4000 Bermudians that we employ in employment.”

The Retail Sales Index figures released yesterday were produced by the Bermuda Government Department of Statistics.

Wayne Furbert, Minister for the Cabinet Office, in a statement said: “Imports via courier decreased $300,000 to $11.1 million. Imports by households via sea decreased $700,000 to $800,000 In contrast, declarations by returning residents via the airport rose $300,000 to $4.5 million while imports via the post office remained unchanged at $500,000.”

In value terms, retail sales were down 5.3 per cent at $98.9 million.

UPDATE: this story has been updated to include a comment from the Bermuda Chamber of Commerce.

• Click on Related Media to see the Retail Sales Index bulletin.

You must be registered or signed-in to post comment or to vote.

Published Oct 9, 2019 at 12:01 am (Updated Oct 9, 2019 at 10:35 am)

Retail sales fell 6% in June

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "Which of these is the worst political gaffe of modern times"
    • Craig Cannonier getting on that plane
    • 11%
    • Michael Fahy pressing on with Pathways to Status
    • 10%
    • Bob Richards's 'Money doesn't grow on trees' speech
    • 5%
    • Lt-Col David Burch and ATVs
    • 9%
    • Wayne Caines and the London cereal cafe
    • 44%
    • Zane DeSilva's mystery shopper cruise
    • 21%
    • Total Votes: 5373
    • Poll Archive

    Today's Obituaries

    eMoo Posts