Retail Sales in January 2023 totaled $2,841.52 million dollars, compared to the same month in the previous year these sales marked a 3.8% increase year over year. This figure also increases the current accumulated value in the seven months for the current fiscal year (July-January) to $22,335.87 million dollars, 3.4% higher than the accumulated value for same time frame in the previous year that totaled $21,607.87 million dollars.
By year over year sales the five sectors that reported the largest increases for January 2023 was: Restaurants and Alcoholic Beverage Places (25.9%); Furniture Stores (24.6%); Clothing Stores (19.1%); Footwear Stores (16.7%); and Electronic Article Stores (11.3%). By year over year change only five sectors experienced a reduction in sales for January 2023, these sectors were: New and Used Motor Vehicles (-7.6%); Pharmacies (-7.4%); Hardware and Home Improvement (-6.0%); Fuel Distributors (-1.4%); and Gas Stations and Convenience Stores (-1.2%).
In accumulated retail sales the sectors that reported increases in the current 2023 fiscal year were: Restaurants and Alcoholic Beverage Places (14.8%); Fuel Distributors (13.5%); Auto Part Stores (12.2%); Pharmacies (8.5%); and Supermarkets and alcoholic beverage stores (7.8%). As for the sectors that reported the most significant reductions for the current 2023 fiscal year, those were: Sporting Goods, Musical Instruments, and Entertainment (-14.1%); New and Used Motor Vehicles (-13.1%); Landscaping and Gardening (-6.0%); Footwear Stores (-2.0%); and Beauty stores (-1.1%).
When observing retail sales by establishment size, the only group that experienced a reduction in sales in January 2023 compared to the same month in 2022 was the Medium Size Stores group with $608.6 million dollars in sales for a 4.9% reduction year over year. The remaining groups meanwhile experienced increases in sales on January 2023 year over year, these were: Non-Chain Large Retail Stores (28%); Small Size Stores (13.3%); and Chain Stores (1%).
In accumulated values for the 2023 fiscal year the size group of Non-Chain Large Retail Stores, that experienced the largest increase in monthly year over year change, presented the only reduction in accumulated sales for 2023 with $5,369.5 million dollars in sales for a 25.5% reduction in sales. The remaining groups meanwhile experienced increases in sales for the current 2023 fiscal year, these were: Small Size Stores (4.2%); Chain Stores (1.9%); and Medium Size Stores (1.5%).