The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.8 per cent in April, the overall volume of retail sales decreased 30.6 per cent when compared to April 2019. Retail sales activity in April 2020 was affected by Coronavirus (Covid-19) restrictions such as the shelter-in-place order, curfew hours and mandatory closure of some retail establishments with the exception of permitted businesses like food stores, pharmacies and service stations.”
The Minister thanked respondents to the retail sales survey for their continued support in providing data needed to measure the impact of the pandemic on retail activity in Bermuda.
Highlighted below are the April 2020 year-over-year changes for each of the seven local retail sectors:
- The sales volume of liquor sales rose 39.1 per cent.
- The sales volume of food stores increased 17.5 per cent.
- The sales volume of motor vehicle stores fell 99.0 per cent.
- The volume of sales at apparel stores dropped 97.1 per cent.
- The volume of sales for building material stores decreased 82.3 per cent.
- The sales volume of all other stores types declined 59.9 per cent.
- The sales volume of service stations fell 59.2 per cent.
The April 2020 Retail Sales Index publication is available online at https://www.gov.bm/retail-sales-index-rsi.