Volume of retail sales down by 0.6 per cent in May 2024

Fri, 28 Jun, 2024 - 12:58

Kenneth Fox

In May 2024, the volume of retail sales decreased by 0.6 per cent in the month and was down by 1.0 per cent in the 12 months from May 2023, according to the Centrsl Staistics Office (CSO).

Excluding motor trade, the monthly volume of retail sales was down by 0.3 per cent in May 2024 and fell by 0.5 per cent in the year when compared with May 2023.

The value of retail sales fell by 2.0 per cent in the month and rose by 1.5 per cent in the 12 months to May 2024.

Monthly volume decreases were recorded in clothing, footwear & textiles (-6.4 per cent), motor trades (-4.5 per cent), Other Retail Sales (-3.8 per cent), Hardware, Paints & Glass (-2.4 per cent), Furniture & Lighting (-2.1 per cent), and Electrical Goods (-1.7 per cent).

The largest monthly volume increases were in bars (+13.8 per cent), books, newspapers & stationery (+7.0 per cent), pharmaceuticals, medical & cosmetic articles (+3.0 per cent), and department stores (+2.9 per cent).

The largest annual declines in May 2024 were in other retail sales (-6.4 per cent), hardware, paints & glass (-5.5 per cent), department stores (-4.0 per cent, and food, beverages & tobacco (Specialised Stores) (-3.9 per cent).

Sectors showing the highest annual volume growth in May 2024 were books, newspapers & stationery (+8.1 per cent), clothing, footwear & textiles (+4.9 per cent), and bars (+4.5 per cent).

The proportion of retail sales transacted online (from Irish ed companies) was up 4.9 per cent in May 2024 compared with 5.6 per cent in April 2024 and 5.2 per cent in May 2023.

Commenting on the release, Stephanie Kelleher, statistician in the Enterprise Statistics Division, said: "The volume of retail sales fell by 0.6 per cent in May 2024 when compared with April 2024 on a seasonally adjusted basis.

"On an annual basis, retail volumes were 1.0 per cent lower than in May 2023. When motor trades are excluded, the volume of retail Sales decreased by 0.3 per cent in the month and fell by 0.5 per cent in the year when compared with May 2023.