Leisure Sectors Seeing Most Sales

Retail sales continued to grow in June, with spending across the leisure sectors, including home improvement, showing the biggest increases, says the ‘Mastercard SpendingPulse.’ Overall retail sales, excluding automotive, increased 5.7 per cent year-over-year (YOY), with in-store sales up nine per cent and eCommerce sales down 7.1 per cent compared to June 2021. However, eCommerce sales compared to pre-pandemic sales were up 90.5 per cent in June over June 2019 (YO3Y). Sales at restaurants were up 21.9 per cent YOY in June, sales at apparel stores were up 35.2 per cent, and sales at home improvement stores were up 7.3 per cent YOY and up 33.5 per cent YO3Y. “While discretionary spending is up, sector by sector, we will see inflation impact consumer spending as prices for essentials increase,” says Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated. “With dollars being stretched, retailers should look for ways to personalize and customize offers accordingly.”