Retail Sales Drop $4.9 Million
Retail sales for the third quarter of 2011 [July, August and September] were estimated at $257.3 million – a $4.9 million decrease when compared to the third quarter of 2010.
According to data released this morning [Jan.5] by the Department of Statistics three of the the seven retail sectors recorded increases in sales: service stations, apparel stores, and building materials.
Sales of motor vehicles declined 22.3%, while sales within the all other store types sector, liquor stores and food stores recorded declines of 2.6%, 2.2%, and 1.6%, respectively.
On overseas spending and imports, the report said locals spent $18.5 million on overseas goods during the third quarter of 2011, $76,000 less than a year ago. Goods valued at $237 million were imported to the Island during the third quarter of 2011, a decrease of 3.6% from $246 million.
However, sales of books are up….:)
You do know that when they publish information about lost sales or figures dropping just means that they didn’t make the same lucrative profits as prior to publication of their losses…Free enterprise in Bda. has made many people VERY WEALTHY…None of these businesses have dropped into the RED cause if they did they would be closed in a New York sec.
Greed has ruined our personality…
So for all of you that want economic equality…push for Communism…we will all be equal then..(equally poor)let the Govt. provide your Health Care …Education…Food Vouchers…Clothing…Transportation…and collect a $200/month check for your luxury items…so people just becareful what you cry for cause you just might get it…So again…all of you who travel 2,3,4 times a year, driving your nice car, wearing trendy clothes and Jewellry…think before you open your mouth and let sh!t fall out ok.
Three words: LOWER. YOUR. PRICES.
Notice that 3 of the sectors are up: Retail apparel, service stations, hardware & building materials.
The biggest decrease is in motor vehicles, food & drink, furniture.
The decrease in food & drink, vehicles and furniture is because the population has reduced. Expats are leaving and no new ones are coming. That source of sales has ended. And no amount of Paula Cox import tax increases is going to make a difference. (How many people order a car or food on Amazon?)
And the apparel stores (Front / Reid Street) are consistently UP..doing better than 2010!
So why are we increasing import taxes again?
Tourists can buy the same things including “T” shirts in USA strip malls as what is available on Front Street. Try Gold and Diamonds.