According to the recently released Retail Sales Index, after adjusting for retail sales inflation (measured at 4.0% in March), total retail sales fell 8.0% compared to March 2021. did.

A government spokesperson said: “Today, the Ministry of Economy, Trade and Labor released the March 2022 Retail Sales Index. Retail sales in March were down 8.0% compared to last year. On a monetary basis, retail sales were compared to the previous year. 4.5% decrease [March 2021] Estimated to $ 101 million.

Charts extracted from the report:

“Sales volume increased by 1.3% compared to the pre-pandemic period of March 2019, with three sectors growing in March 2022.

“Building materials store sales increased 8.3% due to increased demand for building materials products to support contract projects. Sales in this sector exceeded sales levels in 2019 by 12.4%.

“Apparel store sales were up 8.0%, reflecting increased purchases of men’s apparel and clothing, but 2019 sales were 14.2% lower than pre-pandemic sales.

“Gas station sales increased 2.9% from last year, but fell 4.4% from pre-pandemic sales in 2019.

“In all other sectors, sales volume decreased compared to the previous year.

“All other store type sectors [comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods], Pharmaceutical and marine products sales declined by 6.9%. Sales in this sector exceeded 2019 sales by 9.0%.

“Grocery sales were down 12.2%, but liquor store sales were down 22.5%. Grocery stores were down 5.1% compared to pre-pandemic sales in 2019. However, liquor store sales increased by 8.8%.

“Car dealership sales were down 29.7% due to reduced inventories of cars available for sale. This sales level was 3.1% below pre-pandemic sales in March 2019.

“Overseas filings increased by 6.3% compared to March 2021. This is mainly due to the increase in resident imports of machinery and equipment by courier.”

The full publications of the March 2022 Retail Sales Index are: [PDF here]:

Share on WhatsApp share

Read more about

#BermudaBusiness #RetailSalesIndex

Category: All, business, news

Source link

Previous articleFewer Norwegians traveled by public transport in the first quarter of 2022, new figures show
Next articlePrime Minister’s concert on Friday