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Retail Sales up 2.5% in October

Intelligent Economics > Analysis > Retail Sales up 2.5% in October

Sales registered for October 2022 amounted to $3,157.17 million dollars, when compared with the same month in 2021 it represents an increase of 2.5%. Compared to the previous month, this is a 11.6% increase from September 2022 that had a total of $2,828.34 million in sales.

The five sectors with the highest reported increases during October 2022 were:  Sporting Goods, Musical Instruments, and Entertainment (21.5%); Specialty Food stores (14.2%); Hardware and Home Improvement (12.9%); Supermarkets and Alcoholic Beverage stores (12.3%); and Pharmacies (11.8%). 

The five sectors that experienced the largest reductions during October 2022 were: Electronic Articles Stores (-18.7%); New and Used Motor Vehicles (-10.5%); Auto Parts Stores (-9%); Jewelry, Baggage and Leather Articles Stores (-5.4%); and Clothing Stores (-4.3%).

The only group that experienced a decline in October 2022 compared to the same month in 2021 was the Small Business sales group experiencing a 7.4% decline with $120.23 million in sales. The other groups meanwhile increased in sales. Medium Business sales registered a 1.1% increase with $831.08 million in sales; Large Non-Chain establishments increasing by 4% with $375.36 in sales; and Large Chains sales which increased by 3.5% with $1,830 million in sales for October 2022.

The accumulated value of Retail Sales during the ten (10) months of the current calendar year 2022 (January-October) reached figures of $30,525.8 million during the present period. Compared to the same period of the previous calendar year of 2021, this was a 0.7% increase.

The five (5) sectors with the highest increases reported during the current period of the calendar year 2022 were: Fuel distributors (31.9%); Gas stations and convenience stores (15.4%); Restaurants and places of alcoholic beverages (12%); Supermarket and alcoholic beverage stores (7.2%); and Special Food Stores (6.1%).

The five (5) sectors experiencing the most significant reductions during current period of the calendar year 2022 were: Sports, Musical Instruments and Entertainment stores (-14.1%); Shoe stores (-13.5%); Electronics stores (-12.8%); Cosmetics, Beauty Products and Perfumes stores (-11.4%); and Furniture stores (-10.5%).

In terms of accumulated sales during this period of the 2022 calendar year only Large Chain sales with $17,303.08 million in sales experienced a reduction of 0.8% when compared to the same period of the previous calendar year. The other groups had positive changes with Small Businesses sales experiencing an increase of 0.1% with $1,303.38 million in sales; Medium Businesses sales experienced an increase of 0.5% with $7,490.22 million in sales; and the group with the highest increase of Large Non-Chain companies increasing by 7.3% with $4,429.12 million in sales for the current accumulated period of 2022.

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