In-store Shopping Leads April U.S. Retail Sales

Total U.S. retail sales (excluding auto) for April increased 7.2 per cent year-over-year (YOY) and 15.3 per cent compared to pre-pandemic spending in April 2019 (not adjusted for inflation). The Mastercard SpendingPulse says this is similar to YOY monthly growth experienced thus far in 2022. In-store sales are leading growth with an increase of 10 per cent YOY, while eCommerce sales slipped 1.8 per cent, reflecting consumer demand to get out. However, online sales remain elevated (+92 per cent) versus pre-pandemic April 2019. Furniture and furnishing sales, which saw the seventh consecutive month of positive growth, were up 3.8 per cent YOY and 25.7 per cent compared to pre-pandemic 2019 levels. While the housing market is starting to show signs of cooling, consumers continue investing in their homes.