Retail sales up December
27.01.2012
Irish retail sales volumes increased by 2.1pc in December 2011 over the previous month and by 3pc over December 2010, according to figures released today by the CSO.
Excluding motor trades, retail sales were up by 0.2pc on a monthly basis and by 0.6pc year-on-year.
The CSO said the main contributors to the monthly increase were motor trades (26.3pc), department stores (8.1pc), bars (2.7pc) and non specialised stores (0.4pc).
Monthly decreases, meanwhile, were recorded in furniture and lighting (down 5.6pc), other retail sales (3.6pc) and food, beverages and tobacco in specialised stores (3.2pc).
The value of retail sales increased by 2.9pc in December 2011 when compared with November 2011, while there was an annual increase of 3.4pc. Excluding motor trades, there was a monthly fall of 0.1pc in the value of retail sales and an annual increase of 1pc.
Retail Excellence Ireland welcomed the encouraging figures for December, but warned that 2012 would be another very challenging year for retailers.
“After suffering 45 consecutive months of retail sales decline, December’s like for like sales increase is undoubtedly welcome,” said REI CEO David Fitzsimons. “However it must be remembered that retail sales in December 2010 were particularly weak as a result of the severe weather.
“2012 looks set to be as challenging as recent years have been for retailers. Consumer confidence remains at record lows. The effects of the 2pc rise in VAT will act as a weight around the neck of the industry in 2012.
“As a result, large numbers of indigenous and international retailers will continue to close their stores each week and large scale retail industry job losses will continue. Over 50,000 retail employees have lost their jobs since 2008.”
“If the Government and local authorities are serious about protecting the remaining 250,000 retail jobs, they need to take meaningful action, starting with commercial rates. While some reductions have been passed on to retailers by local authorities, reductions of 1-2pc are simply not good enough considering the massive increases in rates over the last decade and the 30pc drop in retail sales over the same period.”