Today, the Ministry of Economy and Labour released the August 2022 Retail Sales Index.

August’s retail sales decreased 4.8 per cent compared to last year.  In value terms, retail sales increased to an estimated $100.5 million.

Compared to the pre-pandemic period of August 2019, volume sales were 0.8 per cent higher.

Five of the seven sectors recorded growth in August 2022.  

Motor Vehicle Stores’ sales volume declined 20.5 per cent as a result of a decreased number of vehicles being sold compared to the previous year.  This sales level was 20.8 per cent above the sales volume in August 2019 prior to the pandemic.

The sales volume at Food Stores fell 7.5 per cent, while Liquor Stores’ sales volume increased 2.3 per cent.  Compared to the pre-pandemic sales volume in 2019, Food Stores registered a 6.9 per cent decrease, while sales for Liquor Stores were 0.2 per cent higher.

In the All Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 6.3 per cent decrease in the sales volume due to lower sales of boat and marine supplies.  Sales for this sector registered 3.3 per cent above the pre-pandemic sales volume for the same period of 2019.

Service Stations’ sales volume decreased 1.3 per cent from last year and was 4.4 per cent above the pre-pandemic sales in August 2019.

The sales volume and value for Building Material Stores decreased 2.8 per cent and 1.3 per cent, respectively.  The sales volume for this sector was 2.4 per cent above the 2019 sales level.

The sales volume at Apparel Stores grew 0.7 per cent.  This was due partially to increased inventory.  However, the sales volume was 19.2 per cent below the pre-pandemic sales of 2019.

Overseas declarations decreased 3.6 per cent compared to August 2021.  Overseas declarations were 25.1 per cent higher when compared to the pre-pandemic period.

The public can review the August 2022 Retail Sales Index report in full at https://www.gov.bm/retail-sales-index-rsi.