Retail Ireland: October Retail Sales Slide 'Disappointing'
Published on Nov 29 2013 10:50 AM in Retail
Data from the CSO has indicated that October retail sales fell in October compared to the same period last year, a development that Retail Ireland has described as disappointing. The value of sales, excluding motor trades and bars, fell by 2.9% in October compared with the same month last year.
However, supermarket sales were up during the period, one of few retail categories to see growth.
"There were falls in the sales in department stores, petrol stations, chemists, clothes shops, hardware outlets, electrical stores and book shops," said Retail Ireland Director Stephen Lynam. "Only supermarkets and furniture sales were up.
"It appears that, just as in September, speculation about the impact of the Budget led to people spending less in October. It is likely the fall of almost 20% in electrical sales compared to October of last year was due to the high number of new TV sets sold in the run up to the digital switchover in late 2012. Those sales have now fallen away."
Lynam added that there are currently an additional 60,000 jobs in the Irish economy, compared to this time last year, which would "hopefully result in a more positive outcome for retailers" in the run up to Christmas.
© 2013 - Checkout Magazine by Stephen Wynne-Jones