Retail Sales Volume Decreased By 4.4% In May

August 28, 2019 | 18 Comments

Today, the Minister for the Cabinet Office Wayne Furbert released the May 2019 Retail Sales Index publication from the Department of Statistics.

The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.8% in May, the overall volume of local retail sales decreased 4.4% since May 2018. In addition, the total value of retail sales in May decreased by 3.5% year-over-year.”

Chart extracted from the report:

Fullscreen capture 28082019 70302 PM

Highlighted below are the year-over-year May 2019 sales volume changes for the local retail sectors:

  • Apparel Stores’ sales volume declined 18.0%.
  • All Other Store Types’ sales volume decreased 8.0%.
  • Liquor Stores’ sales volume decreased 4.1%.
  • Building Material Stores’ sales volume declined 3.8%.
  • Service Stations’ sales volume declined 3.4%.
  • Motor Vehicle Stores’ sales volume declined 0.5%.
  • Food Stores’ sales volume decreased 0.4%.

Minister Furbert stated, “I met with members of the Chamber of Commerce Retail Sector to discuss ways the Government can assist them. I made it clear that the industry must make changes to face the challenges of local retail sales being affected by purchases overseas. I also encourage residents to shop more locally.”

The Minister also explained, “Year-over-year, imports via courier increased $1.1 million to $12.5 million largely due to imports of clothing, medicaments and jewellery.  Imports by households via sea rose $0.8 million to $1.5 million reflecting higher direct imports of furniture, clothing, liquor, and jewellery.

“Imports via the post office increased $0.1 million to $0.6 million.  In contrast, declarations of returning residents via the airport declined $0.1 million to $5.2 million.”

The full May 2019 Retail Sales Index publication follows below [PDF here]:

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Comments (18)

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  1. Jus' Askin' says:

    :-( :-( :-(

  2. Yes and world wide says:

    With ageing populations worldwide, retail sales are down. In the USA you even see Malls closing. So it is NOT the Govts fault as some would have you believe. In Bermuda the problem is compounded because we have large overseas groups buying from the Salvation Army, The Devon Springs facility ANd getting good clothes from elderly relatives….some is used in Bermuda and lots sent home in monthly boxes in containers. Then to really rub it in their DO NOT spend much on island after rent because they send it home to help their families . They also save to buy land in their countries and build homes. I visited 6 who were in Bermuda for 23,26,40 years……I could never afford a house like what they have. It is their money and they have the right to do that and they do without any thought about Bermuda other than it being there for them to make money.

    So Bermudians pay attention.What is your plan? We need their labour but what is your plan so you don’t get clobbered or end up on Financial Assistance. We are there and in the food lines but they are NOT. Are we paying attention or just pointing the finger to say it is all the fault of the Govt?

    • Question says:

      Oh yeah of course. We all buy our petrol, food and motor vehicles from Amazon.

    • Sandgrownan says:

      It’s entirely the govts fault – they have the ability to change local conditions – but won’t. Ask flip flop why.

    • comfortably numb says:

      Yup, a real shame about those foreign workers saving for a better future: why can’t they be more like Bermudians and spend all their money on trips and new phones and take out meals three times a day? And don’t get me started on their work ethics: they show up on time for every shift, they don’t spend half their day looking at their phone, they even volunteer to work holidays, how Bermudian is that?

    • Double S says:

      Always the foreigner’s fault. How very Trumpian and ignorant of you.

      And as someone said below do you buy your gas, groceries and vehicles online?

    • Rockfish says:

      This comment is why I usually do not read the comments section. What a dribble of xenophobia/ / racism

  3. Wahoo says:

    Please resign Wayne….and the rest.

  4. Trump supporter says:

    The minister for the cabinet office,,, wtf
    So What else is new retails sales keep plummeting, the only thing going up is the cost of everything, the NATIONAL DEBT,which we hear NOTHING about. The price of bitcoin and some waistelines.. oh ya airlines too.
    These guys are CLUELESS.. they had so much knowledge pre election. All hot air.
    Well done voters, keep them there longer.

  5. Question says:

    And this is measured against their own dismal record last year.

  6. Onion Peels says:

    Hey, it’s not all bad. Pharmacy sales increased.

    Oh, wait, that’s not a good thing is it?

    • PHSee says:

      How is that possible. The sugar tax was going to force us to eat healthier foods. Why do we need more medicine and a healthier society?

      So many boasted 24-12 ? Now what ?

  7. Triangle Drifter says:

    These are the May figures. The 2019-2020 bag of new budget taxes had not kicked in yet. Wait for it. We ain’t seen nuttin yet. How much is a 5 lb bag of a staple like sugar these days? About $1.50 in the US.

  8. Sandgrownan says:

    Tick tock

  9. Rotten Onion says:

    It’s only statistics, let’s go independent.

  10. Gustav says:

    You get what you Voted for

  11. Joe Bloggs says:

    “After adjusting for the retail sales rate of inflation, measured at 0.8% in May, the overall volume of local retail sales decreased 4.4% since May 2018. In addition, the total value of retail sales in May decreased by 3.5% year-over-year.”

    Excellent news, Minister. Thank you.

    Have you any explanation for the state of our retail economy or are you just there to read to us from the report?

    • Ringmaster says:

      Wayne thinks this is good news as it must mean the cost of living has gone down, just like the PLP promised.

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