Retail sales in April 2024 declined year over year, but they increased compared with March, according to data from the National Retail Federation’s Retail Monitor and CNBC. Meanwhile, online and other nonstore sales grew (albeit at much different rates) both year over year and month over month in April 2024.
The Retail Monitor said it uses anonymized credit and debit card purchase data that Affinity Solutions compiles, and that the data does not require monthly or annual revision.
Whereas total retail sales decreased slightly year over year, down 0.6% compared to April 2023, they inched up month over month, up 0.26% compared to March 2024.
“Consumer spending continues to drive economic growth and retail sales increases, though we see some moderation in spending as consumers continually search for value,” NRF president and CEO Matthew Shay said.
The NRF said the year-over-year decline in total sales “appeared to be an anomaly” because Easter was in April last year but March this year. Despite the drop, the NRF said, total sales increased 1.82% year over year in the first third of 2024.
Nonstore sales and nearly all other categories grow in April
Nonstore sales grew 1.18% month over month in April. Year over year, though, nonstore sales grew 13.88% in April, according to the Retail Monitor.
“Overall inflation remains stubborn because of elevated prices for services, while inflation for goods has dropped to nearly zero,” Shay said. “Consumers remain focused on value and price and are shifting their spending patterns where needed to make ends meet.”
Sales grew month over month in all but one category.
- Health and personal care stores (up 0.85% month over month)
- Building and garden supply stores (up 4.39%)
- Clothing and accessories stores (up 0.46%)
- General merchandise stores (up 0.26%)
- Sporting goods, hobby, music and book stores (up 0.26%)
- Electronics and appliance stores (up 2.14%)
- Furniture and home furnishings stores (up 1.67%)
- Grocery and beverage stores were (down 1.11%)
Sales grew year over year in most categories.
- Health and personal care stores (up 5.26% year over year)
- Building and garden supply stores (up 4.41%)
- Clothing and accessories stores (up 2.08%)
- General merchandise stores (up 0.69%)
- Sporting goods, hobby, music and book stores (down 0.38% year over year)
- Electronics and appliance stores (down 1.55%)
- Furniture and home furnishings stores (down 3.28%)
- Grocery and beverage stores (down 4.46%)
Here’s last month’s update on nonstore sales.
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