With more businesses open since the easing of restrictions and reinvented shopping protocols we are starting to see positive signs coming from the retail sector.
CSO figures show the volume of retail sales increased by 38.4% in June 2020 when compared to May 2020 on a seasonally adjusted basis. This was the largest monthly increase on record, following a monthly increase of 32.5% in May. These increases follow the substantial drop in sales volume in March (-12.4%) and April (-35.8%) just after the pandemic hit. However on an annual basis, retail volumes were 3.5% higher in June 2020 compared with June 2019.
Although retail sales are positive year on year there are noticeable differences between categories as outlined below:
As the volume of in-person shopping increased with shops reopening, the proportion of total retail sales transacted online fell to 6.8% in June, compared with an online share of 13.2% in May.
It is early days but a positive indication of the strength, inventiveness and resilience of the Irish retail landscape to bounce back after such a traumatic period. With the majority of households planning to holiday in Ireland this year this also should provide a much needed boost to the retail landscape across the summer period.
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Source: CSO
