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Irish Retail Sales Increased By 0.9% In February 2022: CSO

By Donna Ahern
Irish Retail Sales Increased By 0.9% In February 2022: CSO

Retail sales increased by 0.9% in February 2022, when compared to January 2022 on a seasonally adjusted basis.

According to the latest Central Statistics Office (CSO) Retail Sales Index February 2022, on an annual basis, retail volumes were 2.2% higher than they were in February 2021.

In February 2022, the largest monthly volume increases in sales were recorded in Bars (+13.9%), Hardware, Paints & Glass (+7.0%) and Electrical Goods (+4.8%).

Largest Annual Increases

Commenting on the release, Stephanie Kelleher, statistician, said, “Several sectors showed very large annual increases in the volume of sales, compared with February 2021, when there was a full lockdown, which curtailed non-essential retail and services.”

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The volume of sales in Bars rose by 726%, compared to February 2021, the research shows.

Clothing & Footwear saw an annual volume increase (+295%), as did Department Stores (+88.1%) and Books, Newspapers & Stationery (+79.5%).

In these sectors, the annual increase reflects a recovery from a very low base in February 2021, when the country was in a Level 5 lockdown.

The volume of retail sales in February 2022 was 3.1% higher than it was in February 2020.

Highest Recorded Increases

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The CSO noted that the highest increases were seen in Clothing & Footwear (+49.0%), Food, Beverages & Tobacco – Specialised Stores (+19.3%) and Electrical Goods (+16.7%).

The largest decreases in the volume of sales in February 2022, when compared to February 2020 levels, were in Bars (-30.2%) and Books, Newspapers & Stationery (-10.1%).

Compared to a year ago, the three sectors that showed the largest reduction in volume were Electrical Goods (-12.9%), Hardware, Paints & Glass (-11.8%) and Non-Specialised Stores – incl. Supermarkets (-8.1%).

Price Change 

Providing further analysis of the figures, Kelleher added, “The impact of price change is reflected in the difference between value and volume.

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“In Fuel, for example, the value of sales rose by 46.5% in the year to February 2022, while the volume rose by just 18.1% over the same period – the difference due to higher prices, compared to the previous year.”

Other Findings 

The proportion of retail sales transacted online (from Irish-registered companies) was 4.7% in February 2022, compared to 5.6% in January 2022, 11.8% in February 2021, and 3.5% in February 2020.

The largest monthly decreases in the volume of sales were in Department Stores (-5.4%) and Furniture & Lighting (-1.2%), the report showed.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click sign up to subscribe to Checkout.

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