Retail Sales Decreased 8.6% In November 2021

March 1, 2022 | 5 Comments

After adjusting for the retail sales rate of inflation – measured at 4.0% in November – the overall volume of retail sales decreased 8.6% when compared to November 2020, according to the recently released Retail Sales Index.

A Government spokesperson said, “Today, the Ministry of Economy and Labour released the November 2021 Retail Sales Index.

“November’s retail sales fell 8.6% compared to last year. In value terms, retail sales fell 4.7%, which represents an estimated $96.8 million compared to last year [November 2020]. However, an area of positive retail sales activity was Motor Vehicle Stores, which grew by 15.2% spurred by an increase in the number of cars sold.

“Also during November 2021, overseas declarations increased 10.0% compared to November 2020. The rise in overseas declarations was influenced mostly by higher imports by households via sea related to clothing and accessories.

Chart extracted from the report:

11 - November - Publisher

“There were some declines in various sectors.

“Service Stations’ sales fell 4.0% despite an increased in vehicular traffic compared to the previous year.

“Sales at Apparel Stores decreased 5.4% as more residents travelled and purchased clothing overseas.

“In the All Other Store Types sector [comprising of stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods], there was a 10.3% decrease due to lower sales of furniture, appliances and boating supplies, as well as sales at pharmacies.

“Sales at Food Stores decreased by 8.7%; Liquor Stores’ sales fell by 11.0%; and Building Material Stores’ sales declined by 33.3%.”

The full November 2021 Retail Sales Index publication follows below [PDF here]:

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Comments (5)

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  1. Joe Bloggs says:

    “A Government spokesperson said, “Today, the Ministry of Economy and Labour released the November 2021 Retail Sales Index.”

    Minister Furbert, where are you? Why are you not releasing this wonderful news?

    • Truthhertz says:

      I also noted that he only seems to speak on these stats when they are positive. When they are not they issue a statement from a nameless and faceless Government spokesperson.

      Politicians really are something else.

      • question says:

        Yep. On the odd occasion the stats look ok, Furbert comes out and pretends he had something to do with it. When they look terrible, which is most of the time, it’s a nameless and faceless ‘Government Spokesperson’.

  2. itisimportant says:

    Probably eating a nice meal somewhere,

  3. Guy Carri says:

    Can someone from gov tell us again what they are doing to combat this?
    Retail tax relief?
    Customs duty relief?
    Change to customs duty due when products are sold?
    Increase customs duty at the airport?
    Increase customs duty for personal imports?

    Best I can see is helping the downfall with MyUS.

    The gov is failing Bermuda.
    Do you know how many people are employed in the retail industry and circulate money including payroll tax and social insurance to gov? Do you want all of these business to close? Many are barely hanging on, looking for hope. Look at how much retail space is closed in Hamilton.

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