Retail sales increase for ninth consecutive month – The Royal Gazette
Updated: 03 Jun 2021 14:22
Retail sales volume increased for a ninth consecutive month in March (file photo)
Retail sales rose 7.7% in March, the ninth consecutive month in which sales volume increased year-over-year.
The sales value for the month was $ 105.7 million, representing an improvement of 9.8 percent.
The same month of 2020 saw Bermuda enter its first period of restrictions in response to the emerging Covid-19 pandemic.
Wayne Furbert, Minister of the Cabinet Office, said: “Six of the seven retail sectors experienced positive growth in March. This was led by motor vehicle stores, which saw the largest increase in sales volume of 117.7% as a larger inventory of vehicles was available for sale. “
Clothing store sales increased 72.2 percent in sales volume. Sales growth has been associated with increased demand as retailers opened for more days in March compared to store closings that began in the second half of March last year.
Building supply stores posted a 26.3% jump in sales volume with an increase in contract sales and major customer projects.
The all other types of stores sector, which includes a variety of stores selling housewares, furniture, appliances, electronics, pharmaceuticals, marine supplies and tourism products, recorded an increase of 22 , 4 percent of sales.
Liquor store sales volume increased 13.1%, with households purchasing larger quantities for home consumption, with restaurants and bars largely confined to outdoor service in March.
The sales volume of food stores fell by 13.1%, and this is believed to be due to the fact that households bought larger quantities in March of last year due to the initial uncertainty with the pandemic and anticipation of government restrictions and stay-at-home orders.
Gasoline stations reported a 6.2% increase in sales volume, up from 12.1% in the same month a year ago. Details were in the Statistics Department’s March 2021 Retail Sales Index release.
Mr Furbert said: “Total selected foreign declarations increased by 40.6% in March compared to March 2020. The increase in foreign declarations was influenced by an increase in clothing imports. by courier as well as by increased imports of furniture, machinery, appliances and electrical equipment by sea. “
Click on Related Media for the March 2021 Retail Sales Index release PDF