Retail Sales Decrease 2.2% In July 2014
Retail sales in July 2014 decreased 2.2% below the $99.1 million recorded in July 2013, and after adjusting for the annual retail sales rate of inflation the volume of retail sales decreased by 3.9%, according to the latest report from the Department of Statistics.
The report said, “Building material stores registered the largest decrease in sales of 8.6%. In contrast, retailers of apparel stores recorded an increase of 1.8% in sales.
“Returning residents declared overseas purchases valued at $4.5 million, the same as in July 2013. This contributed to a combined local and overseas spending total of $101.5 million.
“After adjusting for the annual retail sales rate of inflation, measured at 1.7% in July, the volume of retail sales decreased by 3.9%”
The full July 2014 Retail Sales Index is below [PDF here]:
There’s an ole adage: “We have to go through hell in order to enter into heaven” Too often we judge what we do not understand.
That devil is a liar! What nonsense are you spewing? Maybe, it’s darkest before the dawn, or something. I’ve never heard/read such rubbish!
Govt says GDP has bottomed out, difficult to believe with these stats. I still think Bda has some way to go before it gets out of this recession. I feel for the retailers and from the anecdotal evidence I have seen and heard August and September will not be good either.
The thing is – can Govt, with its mountain of debt, afford to help retailers out? We do seem to be in an unenviable catch 22….
Guys musta been savin up for cup match. BERpp Berrppppp
We have a decreasing economy (the leveling out takes a little time)We have a smaller population We have people in the “PRIVATE ENTERPRIZE” (that means non Government) are earning less and “NO” raises as the revenue is just not there.
WHY?? because people have “LESS DISPOSABLE INCOME TO SPEND”
A HUGE GOVERMENT,HUGE TAXES,HUGE DEBT.A big cloud over such a small economy.
Can any of you people see it coming yet??????
Yet retailers are still not doing enough or being creative enough to try and win your dollars. Service levels leave a lot to be desired with complacent attitudes. Store policies are out of date and restrictive such as refunds policies only allowing store credits rather than cash. 200%+ markups are still the norm. Hard to keep buying Bda at this rate.
Oh and another that gets to me. Expiry dates on gift certificates. It’s cash, they should be honored at anytime!
It’s just a sign that many people are watching there hard earned Dollar and spending were it counts.