Retail sales in Ireland maintained their growth trajectory in November, albeit at a slower pace compared to previous months. The fashion sector, however, remained resilient, underscoring its significance to Irish consumers.
According to the data released by the Central Statistics Agency, November witnessed a 0.6% increase in retail sales volumes, following a robust 1.7% surge in October. On a year-on-year basis, retail volumes skyrocketed by an impressive 16.3%. The value of retail sales also observed a modest uptick of 0.3% compared to October, and a remarkable 23.8% leap when contrasted with November 2020.
It is important to bear in mind that year-on-year comparisons may not accurately depict the true picture, owing to the Covid-19 restrictions in November 2020. During that period, Ireland was under Level 5 restrictions, resulting in only essential retail remaining operational. Consequently, the volume of retail sales had plummeted by 12% in comparison to October 2020.
Highlighting the key performers, the Central Statistics Agency pointed out that the Hardware, Paints & Glass category witnessed the largest monthly surge in sales, climbing by an impressive 16.3%. The Clothing & Footwear sector also experienced substantial growth, boasting a 14.1% increase in sales. Notably, the fashion industry registered an astounding 212% surge on a year-on-year basis. However, it is crucial to consider that this figure was heavily influenced by the lockdown conditions prevalent in November 2020.
When compared to the pre-pandemic levels, retail sales volumes were actually 10.9% higher overall, with Clothing & Footwear demonstrating a notable 32% increase over a two-year span. Nevertheless, these figures may not be entirely accurate, as Black Friday occurred in November this year, whereas it was accounted for in the December reporting period in 2019. This temporal discrepancy may have artificially deflated the November figures in 2019.
Moreover, the proportion of online retail sales from Irish registered companies witnessed a slight increase in November 2021, comprising 6.2% of the total sales. This signifies a rise from 5.5% in October, albeit a decline from the 12.4% recorded in November 2020.
In conclusion, although Irish retail sales growth has decelerated, the fashion sector continues to thrive. It is important to consider the impact of Covid-19 restrictions and seasonal factors while analyzing the figures. Nonetheless, it is evident that Irish consumers have sustained their interest in fashion throughout these challenging times.
Useful Links:
Central Statistics Agency – Retail Sales November 2021 Report
Retail Ireland
