Slight increase in retail sales excluding motor trades
A slight increase in retail sales is a positive sign according to Retail Ireland, yet retail sales are still down by a quarter since the boom.
Print4 March 2013
Figures from the Central Statistic Office (CSO) show the volume of retail sales (iexcluding price effects) decreased by 1.7% in January 2013 when compared with December 2012 while there was an annual decrease of 1.2%.
However, if motor trades are excluded,the Retail Sales Index from the CSO shows that the value of sales rose by 0.9% in January compared with the same month last year.
The sectors which showed month on month volume increases are furniture and lighting (+6.6%), fuel (+1.6%) and non specalised stores (+0.2%). The sectors with the largest monthly decreases were department stores (-15.1%) bars (-8.1%) and motor trades (-3.6%).
IBEC group Retail Ireland said that the slight increase in retail sales, once motor sales are factored out, is positive but that the sector is a long way from a sustained recovery.
Commenting on the figures, Retail Ireland Director Stephen Lynam said "The figures show increases in the value of sales in supermarkets, department stores, fuel, electrical goods and clothing and a slight increase in hardware sales. However, the sale of books and furniture continued to decline and total retail sales are still down by a quarter since the boom.
"There was a sharp retraction in sales in the first quarter of last year, after initial hope that the worst was over. To ensure this is not repeated, it is vital that Government take steps to boost consumer confidence and reduce retailer costs. Otherwise we could have a return to falling spending, with a damaging impact on the domestic economy and employment."
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