News Release: HAMILTON, Bermuda – The Ministry of Economy and Labour released the June 2022 Retail Sales Index.
June’s retail sales volume decreased 4.3 percent compared to last year. In value terms, retail sales increased to an estimated $106.0 million or 0.4 percent.
Compared to the pre-pandemic period of June 2019, volume sales were lower by 1.3 percent, with liquor stores the only sector experiencing year-over-year growth in June 2022.
Sales volume at Liquor Stores increased by 0.8 percent, while Food Stores’ sales volume decreased by 3.2 percent, year-over-year. Compared to 2019 pre-pandemic sales volume, Liquor Stores registered a 1.8 percent increase while sales for Food Stores were 5.7 percent lower.
All other sectors experienced decreases in sales volume compared to the previous year.
Motor Vehicle Stores’ sales volume declined 40.7 percent due to a decreased number of vehicles sold compared to the previous year. This sales level was 15.3 percent below the sales volume in June 2019 before the pandemic.
Building Material Stores’ sales volume fell 4.7 percent. The sales volume for this sector was 22.8 percent above the 2019 sales level.
In the All Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 2.6 percent decrease due to fewer sales of household goods. Sales for this sector registered 1.9 percent below the pre-pandemic sales volume in June of 2019.
Service Stations’ sales volume decreased 0.9 percent from last year and were 11.1 percent below the pre-pandemic sales of 2019.
Sales volume at Apparel Stores decreased 0.3 percent due to the relaxation of travel restrictions, resulting in more travelers shopping overseas. This sales volume was 20.7 percent below the pre-pandemic sales of 2019.
Overseas declarations increased 7.8 percent compared to June 2021 and were 64.5 percent over the pre-pandemic period.
The public can review the June 2022 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.