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Retail sales fall $1.3m in March

Retail sales <B<plummeted $1.3 million in March

Retail sales plummeted $1.3 million in March as customers kept their hands in their pockets during the economic crisis. New figures show a fall of 1.4 percent — 6.2 percent when the inflation rate is taken into account — as spending dropped from $90.1 million in March in 2008 to $88.8 million this March.

With clothes shops suffering a fall of 20.5 percent, Chamber of Commerce retail division chair Kristi Grayston yesterday called for people to back local stores instead of shopping on the Internet.

Ms Grayston said it's no more expensive to buy at Bermuda's shops than online, and shunning them creates a vicious circle because it leaves retailers with less income to invest in good stock.

She added that shopkeepers were doing everything they could with eye-catching window displays and a wide variety of goods. "The key is where you see good retail, support it," Ms Grayston told The Royal Gazette.

The decline was less severe than in February, when volume of retail sales dropped 11 percent.

March's figures were boosted by food store sales, which were up by 6.1 percent, indicating food prices were higher while people also did more grocery shopping and less eating out; sales of boat and marine supplies grew 25.4 percent; and building material stores went up 10.6 percent.

Service stations suffered their fifth successive monthly decline, with a 15.5 percent fall, as gas prices dropped 10.5 percent and less litres were sold; liquor stores were down 12.2 percent; motor vehicle sales fell 8.4 percent.

Ms Grayston said: "It's pretty devastating, especially for the apparel stores. It's a little bit frightening.

"There's a lot of choice on the Island. You have to move around a little bit; be innovative and find the unique things out there. The stores look fantastic, what's on offer. It's just a perception people have. They go to a big department store and say it's the same as the last place. They need to patronise different stores. Don't go to the same place all the time.

"People are also holding onto their money. People are nervous. But if your job is secure and income is secure...

"Support the retailers. They are really doing their best for you, especially in these days. The windows and streets look vibrant. We all need to help each other out. We are all in this together.

"We need to have retail on the Island. Before you click that mouse on your computer, just think about it. We are an all-Bermudian industry. The retail community are earning your support."