Retail sales bounce back in June despite cost of living pressures

Retailers saw sales bounce back in June despite cost of living and inflationary pressures, with the largest increases in consumer spending on books, motor trades and other retail sales.

Central Statistics Office (CSO) figures released on Friday show that the volume of retail sales increased by 0.4 per cent in the month to June 2023, and have risen by 7.6 per cent since June 2022. The increase came after a 1.6 per cent decline in May.

The latest Retail Sales Index shows that sales also increased in terms of value, up by 0.5 per cent between May and June of this year, and up by 11 per cent over the 12 months to June 2023.

Out of 13 retail sectors, nine saw monthly increases in sales volumes.

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Books, newspapers and stationery saw the largest monthly increase of 12.1 per cent, followed by a 4.7 per cent increase in sales of furniture and lighting, and a 4.3 per cent rise in the volume of other retail sales.

Meanwhile, the biggest decreases in monthly sales volumes were for fuel (-3.4 per cent), clothing, footwear and textiles (-2.8 per cent), and electrical goods (-2.8 per cent).

On an annual basis, the largest growth in sales volumes was in other retail sales. The miscellaneous category, which includes everything from carpets and toys to pet food and jewellery, has seen an increase of 22.6 per cent in sales volumes between June 2022 and June 2023.

Motor trades of cars and vehicles also saw a notable annual increase of 18.8 per cent in sales volumes in the year to June 2023.

Department stores saw an annual decrease of 7.7 per cent in sales volumes in the year to June 2023, as sales of food, beverages and tobacco fell by 2.5 per cent over the same period, and electrical goods sales also decreased by 2.4 per cent.

Some 5.8 per cent of all retail sales in June were transacted online, up from 5.2 per cent in May of this year, 5 per cent in June 2022, and 4.9 per cent in June 2021.