Retail businesses across Bermuda have welcomed a rise in sales in March for the ninth consecutive month as the value of goods sold hits $105.7 million – a 9.8 per cent increase on 2020.

The latest official data on retail sales was released this month and showed the recovery of the retail sector in Bermuda a year on from when the nation first entered restrictions in response to the Coronavirus pandemic.

During the month, the total volume of sales also increased by 7.7 per cent as Bermuda enjoys year-on-year growth.

Looking further into the latest figures, apparel stores saw one the biggest improvements, with an increase of 72.2 per cent in sales volume.

This surge in sales activity has been linked to retailers being open longer during March compared to store closures that began in the second half of March last year.

However, the largest sales volume increase was experienced by motor vehicle stores, which saw an increase of 117.7 per cent as a larger number of vehicles were made available for sale this year.

Many other sectors saw the volume of sales increase, including:

• Building material stores (up 26.3 per cent)
• Other stores, including shops selling furniture, appliances, electronics, pharmaceuticals, marine supplies and tourist-related goods (up 22.4 per cent)
• Liquor stores (up 13.1 per cent)

The only sector not to enjoy a year-on-year increase was grocers and food stores. This has been put down to the fact that many households purchased larger amounts in March last year due to initial uncertainty over the pandemic.

The increase in demand for goods in Bermuda has inevitably led to a rise in demand for imports as well. Minister of the Cabinet Office at Government of Bermuda, Wayne Furbert said: “Total selected overseas declarations increased 40.6 per cent in March, compared to March 2020.

“The rise in overseas declarations was influenced by more imports of clothing by courier, as well as higher imports of furniture, machinery, appliances and electrical equipment by sea.”

Consumers and retailers looking for efficient ways of bringing goods from the UK into Bermuda to meet this rise in demand should contact our team. Find out more about our shipping process here or contact us at export@bermudaforwarders.co.uk