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Clothes sales crater as inflation hits disposable income

Primark
/ 28th June 2022 /
BP Reporter

Retail Sales volume through May 2022 was flat compared with April, though not across all sectors, according to CSO data.

Department Stores (+20.9%), Electrical Goods (+9.2%) and Hardware, Paints & Glass (+6.5%) recorded the largest monthly volume increases.

The largest monthly volume decreases were in Furniture & Lighting (-22.3%), Clothing & Footwear (-21.1%) and Motor Trades (-7.0%).

The monthly decline in sales value for Clothing & Footwear retailers was less than the volume decline as they pushed up prices. Furniture & Lighting retailers also endured a tough May compared with April as consumers reined in spending on discretionary buys.

Department Stores did well through May, according to provisional CSO data, as prices were maintained at the previous month's level.

In Association with

The data suggests that grocery price inflation was modest through May too, with sales volume holding up. However, more granular sector data to mid-June from Kantar suggests grocery sales are now under pressure.

The Hardware sector pushed up prices through May and still managed to increase the volume of sales.

The value of Retail Sales was 4.1% lower in May 2022 than in April. Excluding Motor Trades, the value of Retail Sales decreased by 0.1% in the month.

Source: Central Statistics Office

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