Retail sales are ramping up, and it appears that consumers can’t wait to get back into stores. US retail trade sales for April increased 46.1 percent from April 2020, although consumer sentiment weakened a bit with inflation concerns. We should see strong consumer spending in the coming month despite the higher prices due to pent-up demand and high saving balances. Retailers will need to continue to make their customers feel safe while driving the additional purchasing options that grew during the pandemic, such as BOPIS (buy online, pick up in store) and curbside delivery.
Download the May retail and consumer summary.
Click here to download the April retail and consumer summary.