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No Christmas cheer for retailers

Women's Secret, closeout sale last winter (Photograph by Akil Simmons)

December 2021 was a less than merry month, according to the latest retail sales report from the Department of Statistics.

The December 2021 Retail Sales Index report showed that the volume of retail sales fell 8.8 per cent compared with the same month the previous year.

Figures decreased down to $113.3 million in value terms.

This decline was attributed to decreased spending on-island by residents in 2021 compared with the increased spending the year before, after the easing of Covid-19 restrictions.

A rare bright glimmer was for petrol stations, which saw a 2.8 per cent growth in sales volume owing to an increase in vehicle traffic compared with the previous year. The value of sales grew 14.5 per cent due largely to a 11.5 per cent rise in fuel prices.

Car sales volume, however, decreased 22.4 per cent. This is compared with the previous month when motor vehicle sales grew 15.2 per cent.

Meanwhile, local clothing stores were impacted by supply-chain issues causing more residents to buy overseas, contributing to a 0.2 per cent drop in sales volume for apparel.

Imports via courier decreased $1.1 million to $17.9 million while imports by households via sea rose $2.1 million to $10.6 million as a result of higher imports of clothing and accessories. Declarations at the airport by returning residents jumped by $2.6 million to $4.3 million as more residents travelled. Imports through the Bermuda Post Office remained unchanged at $0.6 million.

For the full report, see Related Media or click here

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Published March 29, 2022 at 5:57 pm (Updated March 29, 2022 at 8:18 pm)

No Christmas cheer for retailers

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