Retail Sales Decreased 15% In May 2020

September 27, 2020 | 6 Comments

The May 2020 Retail Sales Index has been released, with the report stating that retail sales overall decreased 15%, while liquor stores recorded the largest volume increase of 19.6%.

Minister for the Cabinet Office Wayne Furbert said, “After adjusting for the retail sales rate of inflation, measured at 1.3% in May, the overall volume of local retail sales decreased 15.0%. Retail sales activity was affected by Coronavirus [Covid-19] restrictions such as curfew hours and primarily curb side pickup for some retail establishments with the exception of permitted businesses such as food stores, pharmacies and service stations.

“Meanwhile, total selected overseas declarations decreased 28.8 per cent in May 2020 compared to May 2019. Overseas declarations includes imports received via courier, residents through the airport, households by sea and the Bermuda Post Office.”

Chart extracted from the report:

5-May 2020 Retail Sales publication-1

Highlighted below are the May 2020 year-over-year changes for each of the seven local retail sectors:

  • Food Stores’ sales volume increased 4.8 per cent.
  • Liquor Stores’ sales volume increased 19.6 per cent.
  • Building Material Stores’ sales volume contracted 18.7 per cent.
  • All Other Store Types’ sales volume declined 26.2 per cent.
  • Service Stations’ sales volume weakened 29.2 per cent.
  • Motor Vehicle Stores’ sales volume fell 30.7 per cent.
  • Apparel Stores’ sales volume decreased 76.5 per cent.

The report said, “After adjusting for the retail sales rate of inflation measured at 1.3% in May, the overall volume of retail sales decreased 15.0% when compared to May 2019. In value terms, retail sales fell 13.9% to an estimated $86.4million. Two of the seven retail sectors recorded higher sales volumes with Liquor Stores recording the largest volume increase of 19.6%.”

The full May 2020 Retail Sales Index publication follows below [PDF here]:

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Comments (6)

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  1. Ringmaster says:

    While 2020 is understandable, note the drops in 2018 and 2019. What caused that? Was there an election in 2017?

  2. Joe Bloggs says:

    I suppose any publicity is better than no publicity for Minister (and former leader of the UBP) Wayne Furbert

  3. Sandgrownan says:

    Around the drain we go. Full recession by February. No wonder the empower called an election.

  4. red rose says:

    and I saw nothing in the PLP election platform to help – indeed they tried to take credit for the refurbishment of the Southampton Princess which then closed with the loss of 700 jobs!

  5. Wing nut says:

    Flip flop furbert.. give him a raise

  6. Question says:

    Down EVERY year since 2017.

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