Retailers working hard to turn figures around
Bermuda’s retail community is working hard to end a sales slump that has seen year-over-year declines in 19 or the last 21 months.
News about “positive steps” will be shared soon, said Lorraine Shailer, who heads the retail division of the Bermuda Chamber of Commerce.
Last week, the Bermuda Government issued retail sales figures for November, which showed sales volume fell 3.2 per cent when compared with the same month in 2018.
Across seven sectors, only food stores managed an improvement, with a 0.6 per cent rise. However, in the selected overseas declarations section, imports via courier increased $1.6 million, while imports by households via sea increased $400,000.
“It is of course disappointing to see another fall in volume in retail sales. With regards to overseas declaration, this is not surprising, as Bermuda is on a par with other markets in this sense,” Ms Shailer said.
“The retail community are however working hard to turn retail figures around, and are currently actively engaged as a community and a division to take positive steps to change the conversation of retail in Bermuda. We look forward to sharing the details of this with you soon”.
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