Retail Sales Decreased 6% In June 2020
Today the Minister for the Cabinet Office Wayne Furbert released the June 2020 Retail Sales Index publication from the Department of Statistics.
The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 1.2 per cent in June, the overall volume of local retail sales decreased 6.0 per cent. Retail sales activity in June 2020 was affected by Coronavirus [Covid-19] restrictions such as curfew hours, alphabetized shopping days and limited in-store customer occupancy for some retail establishments.
“Meanwhile, total selected overseas declarations decreased 11.8 per cent in June 2020 compared to June 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:
Highlighted below are the June 2020 year-over-year changes for each of the seven local retail sectors:
- Building Material Stores’ sales volume rose 7.5 per cent.
- Food Stores’ sales volume increased 0.4 per cent.
- Liquor Stores’ sales volume increased 4.4 per cent.
- All Other Store Types’ sales volume increased 1.7 per cent.
- Motor Vehicle Stores’ sales volume decreased 18.1 per cent.
- Service Stations’ sales volume fell 23.6 per cent.
- Apparel Stores’ sales volume dropped 44.2 per cent.
The full June 2020 Retail Sales Index publication follows below [PDF here]:
Well done Minister. Thank you.
2015, 2016 and 2017 saw increased sales for each month, then 2018 and 2019 saw decreases, even to below 2015 and 2016. 2020 is obviously affected by Covid but the downward trend was already happening since 2017 when there was a change of government. There has been, and still is, no clear idea how to stop the downtrend apart from hire more civil servants and say jobs are increasing. The hole is getting deeper every month.