Retail Sales Fall For 17th Straight Month
Retail sales have fallen to their lowest level in 18 years, according to statistics released by Government this morning [Oct 19]. During the month of August 2010, consumers spent an estimated $84.7 million on retail sales, which was a decrease of $8.8 million or 9.5% less than total sales recorded in the same month of last year. August marked the 17th consecutive month of declining sales activity and the largest year-over-year percentage decline reported since May 1992.
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- Fahy on Retail Sales: Change Duty Charges | Bernews.com | October 20, 2010
Makes sense, given the level of unemployment and the number of people who’ve lost their jobs.
Something clearly needs to give, but I don’t know what. A decrease in payroll tax might have helped but I feel like we’re too far gone now.
R U surprized Bermuda!? People are hurting and the EGO’s are taking all our money from taxes. With nothing left who can afford to shop anyway!!!
Royal Gazette has this as Breakng News…..uumm, this shouldn’t be no real surprise….but government will never reduce the duty for retailers during hard times….so be it = Sufferation will continue….
It’s cheaper to shop online….but Govnerment still doesn’t recognize this…..Lower the duty for retailers!!!!!!
i agree as well.. It is cheaper to shop online and the retail stores here do not have a great selection at all… Maybe they should look into hiring younger buyers and dropping their prices!
This comes as no surprise, As there is nothing here to offer: no selection, items are way overpriced and who needs to deal with the “Mightier then Thou” sales rep attitudes. They want us to buy bermuda but, Sorry there is nothing here to buy……I have tried numerous times to buy bermuda only to spend hours and hours going through hamilton and other parts of the country only to come up empty handed and frustrated with feelng like i’m asking for an arm and a leg when I walk into a store. And not to mention, Sucking teeth, has become the new greeting in Hamilton.
I agree. If retailers want to increase business they need to broaden their selection and bring in some new brands. Whats the sense in having 3 or 4 stores selling the exact same stuff?
And dont even get me started on the level of customer service..
I Co-Sign Your Comment…..Some Retailers need to step up their games too…Lacking Variety with high prices isn’t a good mix….
Even the buyers for these major Grocery Stores need to step it up….why we don’t have a Walmart like store….Gorhams and Masters should start selling clothes and wholesale Groceries and you’ll shut down the competition!!
“Sucking teeth”…I love that………lizen chiel…hin twenty yerz…dey be sukin corn drupped by dee yanks…..annudah jahmaka…yes ire…..
Legalize de weed… market dat… it will be the only place in the world apart from Amsterdam to be upfront… no medicinal hocus pocus like Kallie-fornia… just straight forward and HONEST… watching a doc last night a mind blowing 41% of Americans have used the stuff… would solve the crime and tourism issue overnight here … stop lying people… the WORLD appears to be smoking, dealing and dying over the green stuff… want to fill up the coffers instantly… here’s a solution and judging by the number of people that (alledgedly) are on the “stop list” it is happening here… why do we humans keep LYING to ourselves?
All those that agree that taxes should be dropped, prices are way too high and no variety I am right on board with you. Rents are high, some staff act like you are doing them a favour by dropping by…when I was in New Jersey I brought a summer dress..I wore it into hamilton one Saturday and my fiance said, “Honey look a dress just like yours!” when we passed a certain clothing store (won’t name and shame) I went in just out of curiosity and the same dress that cost me $19.99 in new Jersey was marked at $69.95! you know I exclaimed loudly enough for the staff to hesr, “Are you f#%$&*g kidding me!” Wow! I am one of the “Guilty” ones if you could call us that, I shop online and even though shipping may be a bit more expensive I am still getting more “bang for my buck” by doing so.
Government is allowing the grocery and health sectors to price gauge because these are things people need to have. Everything else in the retail sector is a want, not a need. The grocery and health sector are taking advantage of all of us. No extra income=NOT BUYING WANTS. Prices must fall like everything else to get people to buy. There is no other way around this. IF they continue to charge $100+ for ugly DKNY dresses things won’t get any better.
@ sara I totallty agree with price guaging in the grocery and health sectors. Groceries are way too expensive and the thing about it is that they need not be..everyday I drive across Lindos and Market Place and the parking lot is ALWAYS full..people have to eat and so they will buy the groceries..another thing that I have a problem with is for example if BGA bring a product and they deliver to the store who in turn sell it to the customer please explain to me why four different shops charge four different prices for the same product from the same company? actually I can answer that myself,,it’s because they are allowed to do so plain and simple!!!
One thing i must take from reading the comments of Bernews is that it really helps me guage my Island and see the need in Bermuda.
I own 2 new up and comming stores in Bermuda. One of them is a clothing store. One thing about my company is that we sell the best brands but for a lower price than most stores on the island. I love the feedback and anything you can do to better my business id like to hear about it. Feel free to leave more comments so i can understand the needs of Bermuda even more. Thank you everyone
@ Bermudian Business the best advice I can give you is to offer variety, don’t bring in too much of the same thing, “up to date” is a must and last but not least remember that not everyone is a size two!!!!
Some advice from me personally, while trends are important the trap I see at many stores is they fall into a trend trap and bring in clothes that are too trendy and over the top. While new styles are important don’t forget the importance of the classic clothes that people always need. I find many stores lack classic clothes and get too caught up in trendy stuff which can be just plain ugly. And paying high prices for trendy items doesn’t make sense because who knows how long the style will last.