In February 2023, the volume of Retail Sales rose by 0.7% in the month and increased by 3.6% in the year since February 2022.
The largest monthly volume increases were recorded in Bars (+4.7%), Hardware, Paints & Glass (+2.5%), and Motor Trades (+1.7%).
The highest monthly volume decreases were in Furniture & Lighting (-11.4%) and Books, Newspapers & Stationery (-5.0%).
The largest annual volume increase was in Bars (+12.8%), however caution should be exercised with this level of growth as it is compared with a low base from the previous year.
Other sectors to show large annual volume increases were Motor Trades (+9.1%), Clothing, Footwear & Textiles (+6.0%), and Fuel (+4.1%).
Other Retail Sales (-13.2%), Department Stores (-8.7%), and Food, Beverages & Tobacco (Specialised Stores) (-7.0%), showed the largest annual volume decreases in February 2023.
The volume of Retail Sales excluding Motor Trades fell by 0.1% in the month and rose by 0.5% in the year.
The proportion of Retail Sales transacted online (from Irish registered companies) was 5.3% in February 2023 compared with 5.4% in January 2023, 4.5% in February 2022, and 11.8% in February 2021.
| Seasonally Adjusted Retail Sales Index - All Businesses | ||
| Base Year 2015 = 100 | ||
| Volume Index | Value Index | |
| February 2020 | 121.5 | 112.3 |
| February 2022 | 122.2 | 120.6 |
| January 2023 | 125.6 | 131.7 |
| February 2023 | 126.5 | 134.0 |
| % change | ||
| Monthly | 0.7% | 1.8% |
| Annual | 3.6% | 11.1% |
| February 2020 - February 2023 | 4.1% | 19.3% |
In February 2023, the volume of Retail Sales for all businesses rose by 0.7% in the month and rose by 3.6% in the year since February 2022. Excluding Motor Trades there was a monthly volume decrease of 0.1% in February 2023, while on an annual basis, retail volumes were 0.5% higher.
In February 2023, the largest monthly volume increases were recorded in Bars (+4.7%) and Hardware Paints & Glass (+2.5%). The highest monthly volume decreases were in Furniture & Lighting (-11.4%) and Books, Newspapers & Stationery (-5.0%).
| X-axis label | Monthly percentage change |
|---|---|
| All Businesses | 0.7 |
| Motor Trades | 1.7 |
| Non-Specialised Stores (incl. Supermarkets) | -0.2 |
| Department Stores | 0.1 |
| Food, Beverages & Tobacco | 0.2 |
| Fuel | -1 |
| Pharmaceuticals, Medical & Cosmetic Articles | 1 |
| Clothing, Footwear & Textiles | -0.8 |
| Furniture & Lighting | -11.4 |
| Hardware, Paints & Glass | 2.5 |
| Electrical Goods | -1 |
| Books, Newspapers & Stationery | -5 |
| Other Retail Sales | 0.9 |
| Bars | 4.7 |
In February 2023, the sectors with the largest annual increases in volume were Bars (+12.8%), Motor Trades (+9.1%), Clothing, Footwear & Textiles (+6.0%), and Fuel (+4.1%). Large annual decreases were seen in Other Retail Sales (-13.2%), Department Stores (-8.7%), and Food, Beverages & Tobacco (Specialised Stores) (-7.0%).
| X-axis label | Annual percentage change |
|---|---|
| All Businesses | 3.6 |
| Motor Trades | 9.1 |
| Non-Specialised Stores (incl. Supermarkets) | 2.2 |
| Department Stores | -8.7 |
| Food, Beverages & Tobacco | -7 |
| Fuel | 4.1 |
| Pharmaceuticals, Medical & Cosmetic Articles | 1.4 |
| Clothing, Footwear & Textiles | 6 |
| Furniture & Lighting | -1.3 |
| Hardware, Paints & Glass | 1.7 |
| Electrical Goods | -1.2 |
| Books, Newspapers & Stationery | -2 |
| Other Retail Sales | -13.2 |
| Bars | 12.8 |
Compared with February 2020 (36 months earlier and pre-COVID-19), the highest increases in the volume of Retail Sales in February 2023 were seen in Clothing, Footwear & Textiles (+51.5%), Hardware, Paints & Glass (+16.3%), Pharmaceuticals, Medical & Cosmetic Articles (+15.5%), and Electrical Goods (+11.7%). The largest volume decreases during the same period occurred in Bars (-15.2%), Department Stores (-12.3%), and Books, Newspapers & Stationery (-11.3%).
| X-axis label | February 2020 - February 2023 |
|---|---|
| All Businesses | 4.1 |
| Motor Trades | 7.3 |
| Non-Specialised Stores (incl. Supermarkets) | 3.4 |
| Department Stores | -12.3 |
| Food, Beverages & Tobacco | 8.5 |
| Fuel | -2.1 |
| Pharmaceuticals, Medical & Cosmetic Articles | 15.5 |
| Clothing, Footwear & Textiles | 51.5 |
| Furniture & Lighting | 7.9 |
| Hardware, Paints & Glass | 16.3 |
| Electrical Goods | 11.7 |
| Books, Newspapers & Stationery | -11.3 |
| Other Retail Sales | -8.8 |
| Bars | -15.2 |
The proportion of Retail Sales transacted online (from Irish registered companies) was 5.3% in February 2023, 5.4% in January 2023 compared with 4.5% in February 2022, and 11.8% in February 2021. Excluding Motor Trades, the proportion of Retail Sales transacted online in February 2023 was 6.8% compared to 7.0% in January 2023 and 5.9% in February 2022.
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Statistician's Comment
The Central Statistics Office (CSO) has today (28 March 2023) released - Retail Sales Index February 2023 (Provisional) and January 2023 (Final).
Commenting on the release, Stephanie Kelleher, Statistician in the Business Statistics Division, said: "Retail Sales rose by 0.7% in February 2023 when compared with January 2023 on a seasonally adjusted basis. On an annual basis, retail volumes were 3.6% higher than in February 2022 (See Headline Table, Table 1, and Figure 1).
Monthly Changes
In February 2023, the largest monthly volume increases were recorded in Bars (+4.7%), Hardware, Paints & Glass (+2.5%), and Motor Trades (+1.7%).
The highest monthly volume decreases were in Furniture & Lighting (-11.4%) and Books, Newspapers & Stationery (-5.0%) (See Table 3 and Background Notes).
Annual Changes
The largest annual volume increase was in Bars (+12.8%), however some caution should be exercised as it is compared with a low base from the previous year. Despite this increase, Bar sales remained 15.2% lower than their pre-COVID-19 level in February 2020.
Other sectors to show large volume increases were Motor Trades (+9.1%), Clothing, Footwear & Textiles (+6.0%), and Fuel (+4.1%).
The largest annual volume decreases were recorded in Other Retail Sales (-13.2%), Department Stores (-8.7%), and Food, Beverages & Tobacco (Specialised Stores) (-7.0%) (See Tables 3 & 3a).
Value of Retail Sales
The value of Retail Sales was 1.8% higher in February 2023 than January 2023 and was 11.1% higher than a year earlier. Excluding Motor Trades, the value of Retail Sales rose by 0.9% in the month and rose by 7.9% on an annual basis (See Tables 1 & 2)."
Editor's Note
The February (Provisional) period covers four weeks from 29/01/23 to 25/02/23 and the January (Final) period covers four weeks from 01/01/23 to 28/01/23.