The Ministry for the Cabinet Office issued the July 2021 Retail Sales Index (RSI) this week indicating a 6.7 percent decrease in local retail sales when compared to the previous year.
In value terms, retail sales fell 3.9 percent to an estimated $104.7 million compared to the previous year (July 2020).
Six of the seven retail sales sectors experienced decreased growth in July 2021.
An area of positive retail sales activity was the Building Material stores. This sector continued to benefit from the streamlined Government processes and policies such as expedited planning applications, which encouraged many construction and renovation projects to proceed.
Apparel Stores’ sales declined slightly by 2.0 percent compared to a 21.7 percent loss in 2020. Food Stores were down by 4.9 percent, while Liquor Store sales fell 6.1 percent.
Meanwhile, overseas declarations increased 30.6 percent in July 2021. The rise in overseas declarations was influenced byhigher imports of clothing, furnishings and electrical machinery and equipment.
To review the full report which outlines how other industries fared in July, visit https://www.gov.bm/retail-sales-index-rsi.
