Retail Sales Fall 0.9% in April 2011

Retail sales for the month of April 2011 slipped 0.9% to an estimated $86 million. The motor vehicle, building material, apparel and all other store types sectors all experienced declines in sales, while sales of food, liquor and gasoline increased.

Motor vehicles sales declined 18.5% as compared to April of last year. The volume of cars sold fell by 15.4 per cent and offset a 20.3 per cent increase in the quantity of motorcycles sold during the month.

Sales of liquor increased 5.4%, while sales of furniture, appliances and electronics fell 11.3%. Sales receipts by retailers of boat and marine supplies declined by 6.9% while sales from tourist-related stores decreased by 6.8%.

Returning residents declared overseas purchases of $6.1 million, the same as in April 2010. Combined local and overseas spending fell to an estimated $92.1 million, 0.9% less than in 2010.

After adjusting for the annual retail sales rate of inflation, measured at 2.8% in April 2011, the volume of retail sales contracted by 3.6%.

In a recent consumer survey regarding shopping in Bermuda, respondents were asked what they don’t like about shopping in Bermuda; limited choices of goods was the main concern, followed by high prices, rude sales staff, unavailability of goods and poor quality items.

The full 4-page report is below, click ‘Full Screen’ for greater clarity:

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