RETAIL SALES INDEX

April 2018

SALES VOLUME FELL 7.8 PER CENT In value terms, retail sales declined 5.3 per cent to
an estimated $89.9 million. Returning residents
After adjusting for the retail sales rate of inflation, declared overseas purchases valued at $5.2
measured at 2.7 per cent in April, the overall million, which was 8.3 per cent higher than April
volume of retail sales weakened 7.8 per cent. 2017. This contributed to a combined local and
Five of the seven retail sectors recorded declines overseas spending of $95.1 million.
in sales volume with the largest sales volume
decrease being reported for liquor stores at 19.4 Excluding Sundays, there were 25 shopping days
per cent. during the month, one more than in April 2017.

The Retail Sales SUMMARY STATISTICS

Index (RSI) is
Overseas Purchases Combined
currently based on Annual % Change in
Total Declared by Retail Sales
Total Retail Sales
a matched sample Retail Returning Residents (Local + Overseas)
Retail
Sales Sales
of reporting retail Estimate
Volume Value %
stores. The sales Period Index Volume Value Value Value ($M) % Change
($M) ($M) Change
data are collected
from these stores 2017
through a monthly Apr 99.4R +1.5R +2.5R 95.0R 4.8 +2.1R 99.8R +2.5R
May 111.2 +8.3 +9.8 106.8 5.0 -7.4 111.8 +8.9
mail survey. The
Jun 117.0 +7.6 +9.1 112.2 3.8 -7.3 116.0 +8.5
Department of Jul 110.8 +0.7 +2.2 106.3 3.4 -22.7 109.7 +1.2
Statistics wishes to Aug 102.2 +2.5 +4.7 98.5 6.6 +3.1 105.1 +4.6
acknowledge the Sep 99.1 -0.8 +1.9 96.3 4.8 +4.3 101.1 +2.0
continuous support Oct 96.2 -0.2 +1.4 92.9 5.1 +21.4 98.0 +2.3
Nov 99.0 -3.1 -0.7 95.9 6.4 +3.3 102.3 -0.4
of the business
Dec 115.8 +0.3 +2.7 111.8 7.3 +17.2 119.1 +3.2
community in 2018
supplying the Jan 89.5 +1.0 +2.3 87.1 4.4 0.0 91.5 +2.8
R R R
required sales data. Feb 83.8 +0.5 +2.7 81.8R 3.3 +6.5 85.1R +2.9R
Mar 95.3 -5.4 -3.2R 93.0R 3.4 -8.1 96.4R -3.4R
Apr 91.6 -7.8 -5.3 89.9 5.2 +8.3 95.1 -4.7

DEPARTMENT OF STATISTICS
 BERMUDA RETAIL SALES INDEX — April 2018

Liquor and Food Stores Service Stations

During April 2018, the volume of sales for liquor The volume of fuel sales for service stations
stores and food stores declined 19.4 per cent and slipped 6.1 per cent year-over-year. The value of
10.2 per cent, respectively. In value terms, sales fuel sales fell 2.7 per cent due primarily to a 3.6
at liquor stores declined 14.8 per cent while food increase in fuel prices during the month.
sales weakened 6.2 per cent. Retailers attributed
the negative sales growth to the Good Friday Building Material Stores
holiday being observed during March in 2018 When compared to April 2017, receipts from the
and April in 2017. sale of building materials increased 2.7 per cent
in volume and 2.8 per cent in value terms. The
Apparel Stores rise in sales receipts reflected an increase in de-
The sales volume of apparel stores decreased mand for construction goods for several com-
10.6 per cent. Retailers noted the timing of the mercial projects.
Easter holiday and a shortened sales day during
the hosting of the triathlon as reasons for the de- Motor Vehicle Stores
cline. In value terms, sales revenue for apparel An increase in the number of cars sold led to a
stores decreased 10.1 per cent when compared to 3.3. rise in the sales volume for retailers of motor
April 2017. vehicles. In value terms, sales receipts rose 3.9
per cent year-over year.

All Other Store Types

In volume terms, sales for the all other store Resident Purchases Overseas (value)
types sector declined 9.9 per cent. In value Residents declared 5.2 million in overseas
terms, the sector recorded a decrease in sales of purchases during the month, 8.3 per cent higher
6.9 per cent. Revenue for marine and boat than in April 2017. The majority of purchases
suppliers contracted 48.4 per cent as a result of were for clothing and footwear which comprised
fewer boat sales. Sales of furniture, appliances over 50 per cent of total overseas purchases.
and electronics declined 5.2 per cent while sales
for pharmacies were 2.6 per cent lower. In
contrast, sales of miscellaneous goods increased
8.1 per cent.
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 BERMUDA RETAIL SALES INDEX — April 2018

Table 1
Average Monthly Sales Volume (1)
2015=100
Total Motor Building
Period Retail Food Liquor Vehicle Service Material Apparel All Other
Stores Stores (2) Stores (3) Stores Stations Stores Stores Store Types
2017
Apr 99.4R +1.5R 101.2 +3.0 95.6R +2.0R 91.5R -22.2R 97.7R +2.8R 120.7R +2.6R 85.0 +1.5 101.9R +7.6
May 111.2 +8.3 105.9 +4.3 108.9 +2.6 90.7 -10.5 118.6 +6.8 128.6 +12.0 112.1 +12.5 116.2 +16.4
Jun 117.0 +7.6 109.2 +6.6 125.7 +14.2 83.3 -25.8 125.8 +13.7 112.0 +6.0 160.7 +30.9 116.9 +4.6
Jul 110.8 +0.7 105.2 -1.7 114.0 -14.5 107.2 +14.4 132.2 +2.2 108.6 -3.3 99.9 -0.2 112.0 0.0
Aug 102.2 +2.5 98.1 -0.9 102.2 +4.6 118.3 +28.0 107.5 -0.7 124.7 +29.0 89.2 -4.5 98.7 -3.5
Sep 99.1 -0.8 100.7 +1.0 92.9 -4.0 102.8 -10.1 96.8 -3.3 117.4 +12.6 94.0 +2.3 93.0 -4.7
Oct 96.2 -0.2 97.3 -5.4 86.9 -13.6 101.6 +15.8 101.0 +1.6 110.2 +10.0 76.5 -1.9 93.7 +0.6
Nov 99.0 -3.1 96.5 -1.8 85.1 -3.1 94.6 -14.2 95.2 -2.2 116.0 -4.1 106.3 -7.2 98.7 -2.8
Dec 115.8 +0.3 105.2 -2.3 114.0 -3.5 88.8 +12.0 94.2 -0.3 106.6 +13.7 179.5 -3.8 126.9 +1.4

2018
Jan 89.5 +1.0R 94.1 -0.1 64.6 -5.3 92.3 -6.8 87.0 -3.1 109.8 +3.8 70.1 +16.4 85.7 +0.5
Feb 83.8R +0.5R 88.1 -1.6 70.7 -4.8 84.8 -3.6 84.2R +1.1R 115.6R +15.8R 51.3 +2.4 83.6 +2.3
Mar 95.3 -5.4 103.9 +3.6 88.1 +2.8 70.7 -44.7 94.8 -4.0 113.9 -19.0 73.9 -3.7 93.6 -2.0

Apr 91.6 -7.8 90.9 -10.2 77.1 -19.4 94.5 +3.3 91.7 -6.1 124.0 +2.7 76.0 -10.6 91.8 -9.9

Table 2
Average Monthly Sales Value (1)
2015=100
Total Motor Building All Other
Period Retail Food Liquor Vehicle Service Material Apparel Store
Stores Stores (2) Stores (3) Stores Stations Stores Stores Types
2017

Apr 101.8R +2.5R 103.2 +2.6 103.0R +6.0R 90.9R -21.8R 106.9R +10.2R 122.3R +2.9R 86.4 +3.6 103.0R +8.0
May 114.4 +9.8 111.1 +7.4 120.6 +8.6 90.1 -10.1 130.6 +15.2 130.2 +12.0 113.9 +14.8 117.5 +15.7
Jun 120.2 +9.1 114.8 +10.4 139.2 +19.4 82.8 -25.4 133.7 +16.7 113.5 +6.0 163.3 +33.6 118.4 +4.7
Jul 113.9 +2.2 111.0 +2.0 127.7 -9.5 106.5 +14.9 139.3 +6.1 110.0 -3.3 101.7 +2.0 113.5 +0.2
Aug 105.5 +4.7 103.7 +3.1 114.5 +10.7 117.6 +28.4 116.8 +7.0 126.3 +29.0 90.9 -2.3 99.9 -3.5
Sep 103.2 +1.9 106.3 +4.5 104.2 +1.7 102.0 -10.0 112.2 +9.8 118.9 +12.6 95.7 +4.5 94.3 -4.6
Oct 99.5 +1.4 102.9 -2.0 97.7 -8.3 101.3 +16.7 110.0 +5.8 111.6 +10.0 78.1 +1.6 94.9 +0.7
Nov 102.8 -0.7 102.3 +2.1 95.8 +2.9 94.3 -13.6 105.4 +7.0 117.5 -4.2 108.4 -5.5 101.5 -1.4
Dec 119.8 +2.7 110.2 +2.5 128.5 +3.1 88.4 +6.7 102.9 +4.2 108.0 +13.7 183.1 -1.9 130.7 +2.5

2018
Jan 93.3 +3.0 100.5 +3.4 73.1 +0.7 91.9 -6.3 96.7 +2.5 111.2 +3.7 71.5 +16.8 88.1 +2.0
R R R R R R
Feb 87.7 +2.7 92.9 +0.5 80.0 +1.3 85.3 -2.7 92.7 +5.8 117.2 +15.9 52.4 +2.9 86.4 +4.2
Mar 99.6R -3.2R 110.1 +5.8 99.8 +9.3 71.0 -44.0 104.6 +1.4 112.1R -21.4R 75.4 -3.2 96.9 +0.5

Apr 96.4 -5.3 96.8 -6.2 87.8 -14.8 94.4 +3.9 104.0 -2.7 125.7 +2.8 77.7 -10.1 95.9 -6.9

(1) Index numbers are subject to revisions (3) Does not include sales to bars, clubs, hotels and restaurants
(2) Includes household supplies but excludes alcoholic beverages (R ) represents revised

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 BERMUDA RETAIL SALES INDEX — April 2018

EXPLANATORY NOTES and in the rendering of services that are incidental

to the sale of the merchandise.
The Retail Sales Index (RSI) was first developed in
1982. It is a key economic indicator used to assess Retail Establishment
the current performance of sales activity in the A retail establishment is one that operates at a fixed
retail sector of the economy. place of business and is engaged in sales activities to
attract the general public to buy merchandise.
The RSI is a self-weighting index. This means that
stores reporting a large value of sales have a greater Value Sales
impact on the movement of the index than stores The dollar value of a quantity of goods and services
reporting a low level of sales activity. sold for cash or credit. Sales include the amounts
received from customers for: immediate and layaway
The RSI serves to:
purchases; rentals; installations; maintenance; repairs
1) measure monthly and annual movements of and alterations.
retail sales
Gross Sales
2) provide an estimated gross turnover of sales in Gross sales are sales for which no deductions have
the local retail sector been made for the return of merchandise,
3) act as a barometer of change in the level of allowances and discounts.
demand for both the domestic and tourist Volume Sales
markets The dollar value of a quantity of goods and services
The index is structured into seven broad sectors: sold at current retail market prices adjusted to
Food Stores eliminate the effect of price change.
Liquor Stores Estimated Gross Turnover
Motor Vehicle Dealers Estimated gross turnover is the total value of retail
Service Stations sales generated in the retail sector. It is calculated by
Building Materials applying the all-items index number for the current
Apparel Stores month to the average monthly sales figure determined
All Other Store Types in the base year.
Total retail stores across the seven sectors represent Base Period
roughly 70% of all retail activity on the Island. The base This is the time period used as a reference point for
period 2015 recorded a gross turnover in retail sales of measuring the shift in the value of retail sales. The
$1.1 billion. base period for the Bermuda RSI is 2015.
Retail outlets that participate in the retail sales survey Overseas Purchases
and trade in similar types of goods are grouped into Overseas purchases reflect the value of goods declared
these seven sectors. It is important to note that sector by residents through HM Customs while travelling on
classifications are not interchangeable with commodity vacation or business trips.
classifications. This is because most retail outlets
sell several kinds of commodities. The sector classifi- Published by the Government of Bermuda
cation reflects generally the individual commodity or July 2018
the commodity group, which is the primary source of
the establishment’s receipts, or some mixture of Department of Statistics
commodities, which characterizes the establishment’s Cedar Park Centre,
business. 48 Cedar Avenue, Hamilton HM 11, Bermuda
CONCEPTS AND DEFINITIONS P.O. Box HM 3015
Hamilton HM MX, Bermuda
Retail Trade
Retail trade is the sector of the economy that Tel: (441) 297-7761, Fax: (441) 295-8390
includes establishments that are engaged in the sale of E-mail: [email protected]
merchandise for personal or household consumption Website: www.gov.bm/department/statistics

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