In March 2023, the volume of Retail Sales rose by 2.0% in the month and increased by 8.6% in the 12 months from March 2022.
When Motor Trades are excluded, Retail Sales rose by just 0.3% in the month and by 0.6% in the year when compared with March 2022.
The largest monthly volume increases were recorded in Other Retail Sales (+34.8%) and Department Stores (+5.0%).
The highest monthly volume decreases were in Bars (-15.9%), Clothing, Footwear & Textiles (-7.3%) and Hardware, Paints & Glass (-7.1%).
The largest annual volume growth was in Motor Trades (+30.7%), Other Retail Sales (+22.3%), Bars (+9.6%), and Fuel (+6.3%).
Hardware, Paints & Glass (-11.6%), Pharmaceuticals, Medical & Cosmetic Articles (-4.2%), Books, Newspapers & Stationery (-4.1%), and Food, Beverages & Tobacco (Specialised Stores) (-4.1%), showed the largest annual volume declines in March 2023.
The value of Retail Sales increased by 1.8% in the month and grew by 14.9% in the 12 months from March 2022.
The proportion of Retail Sales transacted online (from Irish registered companies) was 5.6% in March 2023 compared with 5.2% in February 2023, 5.0% in March 2022, and 11.1% in March 2021.
| Seasonally Adjusted Retail Sales Index - All Businesses | ||
| Base Year 2015 = 100 | ||
| Volume Index | Value Index | |
| March 2022 | 119.7 | 119.0 |
| February 2023 | 127.4 | 134.3 |
| March 2023 | 130.0 | 136.7 |
| % change | ||
| Monthly | 2.0% | 1.8% |
| Annual | 8.6% | 14.9% |
In March 2023, the volume of Retail Sales for all businesses rose by 2.0% in the month and rose by 8.6% in the year since March 2022. Excluding Motor Trades there was a monthly volume increase of 0.3% in March 2023, while on an annual basis, retail volumes were 0.6% higher.
In March 2023, the largest monthly volume increases were recorded in Other Retail Sales (+34.8%) and Department Stores (+5.0%). The highest monthly volume decreases were in Bars (-15.9%), Clothing, Footwear & Textiles (-7.3%), and Hardware Paints & Glass (-7.1%).
| X-axis label | Monthly percentage change |
|---|---|
| All Businesses | 2 |
| Motor Trades | -0.7 |
| Non-Specialised Stores (incl. Supermarkets) | -0.2 |
| Department Stores | 5 |
| Food, Beverages & Tobacco | -2.5 |
| Fuel | -0.4 |
| Pharmaceuticals, Medical & Cosmetic Articles | 1.2 |
| Clothing, Footwear & Textiles | -7.3 |
| Furniture & Lighting | -1.4 |
| Hardware, Paints & Glass | -7.1 |
| Electrical Goods | 0.9 |
| Books, Newspapers & Stationery | -2.1 |
| Other Retail Sales | 34.8 |
| Bars | -15.9 |
In March 2023, the sectors with the largest annual increases in volume were Motor Trades (+30.7%), Other Retail Sales (+22.3%), Bars (+9.6%), and Fuel (+6.3%). Large annual decreases were seen in Hardware, Paints & Glass (-11.6%), Pharmaceuticals, Medical & Cosmetic Articles (-4.2%), Books, Newspapers & Stationery (-4.1%) and Food, Beverages & Tobacco (Specialised Stores) (-4.1%).
| X-axis label | Annual percentage change |
|---|---|
| All Businesses | 8.6 |
| Motor Trades | 30.7 |
| Non-Specialised Stores (incl. Supermarkets) | 0.3 |
| Department Stores | -1.7 |
| Food, Beverages & Tobacco | -4.1 |
| Fuel | 6.3 |
| Pharmaceuticals, Medical & Cosmetic Articles | -4.2 |
| Clothing, Footwear & Textiles | -2.6 |
| Furniture & Lighting | -0.3 |
| Hardware, Paints & Glass | -11.6 |
| Electrical Goods | 1.9 |
| Books, Newspapers & Stationery | -4.1 |
| Other Retail Sales | 22.3 |
| Bars | 9.6 |
The proportion of Retail Sales transacted online (from Irish registered companies) was 5.6% in March 2023, 5.2% in February 2023 compared with 5.0% in March 2022, and 11.1% in March 2021. Excluding Motor Trades, the proportion of Retail Sales transacted online in March 2023 was 7.5% compared to 6.8% in February 2023 and 6.3% in March 2022.
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Statistician's Comment
The Central Statistics Office (CSO) has today (28 April 2023) released - Retail Sales Index March 2023 (Provisional) and February 2023 (Final).
Commenting on the release, Stephanie Kelleher, Statistician in the Business Statistics Division, said: "Retail Sales rose by 2.0% in March 2023 when compared with February 2023 on a seasonally adjusted basis. On an annual basis, retail volumes were 8.6% higher than in March 2022. When Motor Trades are excluded Retail Sales rose by just 0.3% in the month and 0.6% in the year when compared with March 2022 (See Headline Table, Tables 1 & 2, and Figure 1).
Monthly Changes
In March 2023, the largest monthly volume increases were recorded in Other Retail Sales (+34.8%) and Department Stores (+5.0%).
The highest monthly volume decreases were in Bars (-15.9%), Clothing, Footwear & Textiles (-7.3%) and Hardware, Paints & Glass (-7.1%) (See Table 3 and Background Notes).
Annual Changes
The largest annual volume increase was in Motor Trades (+30.7%), similar to the annual growth of new cars licensed (+33%) published by the CSO on 12 April 2023. See Vehicles licensed for the first time March 2023.
Other sectors showing large annual increases were Other Retail Sales (+22.3%), Bars (+9.6%), and Fuel (+6.3%).
The largest annual volume decreases were recorded in Hardware, Paints & Glass (-11.6%), Pharmaceuticals, Medical & Cosmetic Articles (-4.2%), Books, Newspapers & Stationery (-4.1%), and Food, Beverages & Tobacco (Specialised Stores) (-4.1%) (See Table 3).
Value of Retail Sales
The value of Retail Sales was 1.8% higher in March 2023 than February 2023 and was 14.9% higher than a year earlier. Excluding Motor Trades, the value of Retail Sales fell by 0.2% in the month and rose by 5.0% on an annual basis (See Tables 1 & 2)."
Editor's Note
The March (Provisional) period covers five weeks from 26/02/23 to 01/04/23 and the February (Final) period covers four weeks from 29/01/23 to 25/02/23.