Finance & Economics

US retail recovers from the coronavirus pandemic

The report shed light on how the US retail recovers

US retail

US retail recovers from the coronavirus pandemic. Source: shutterstock.com

The National Retail Federation has revealed that retail sales continued to recover from the coronavirus pandemic in August. They showed a gradual improvement from July and larger gains year-over-year.

While August retail sales numbers were a bit mixed, we believe the consumer is resilient and is in good shape as we head into the holiday season. Over the past several months, consumers have responded well to federal relief measures that have supported the recovery, so it comes as no surprise that they would take a pause on spending as some of these programs tapered off at the end of July. We continue to advocate for additional stimulus measures to help the economy recover. With the holidays quickly approaching, our retailers are prepared to serve customers to meet all of their holiday needs and are embracing the new holiday tradition of shopping early
Matthew Shay, NRF President and CEO 

Meanwhile, overall retail sales during August were up 0.6% seasonally adjusted from July and up 2.6% year-over-year, the US Census Bureau reports. That follows a 0.9% month-over-month increase in July.

The biggest monthly gain came at apparel stores, although their sales remained far below last year. For instance, they were up 2.9% month-over-month seasonally adjusted but down 23.5% unadjusted year-over-year.

As to electronics and appliance stores, they were up 0.8% month-over-month seasonally adjusted but down 3.4% unadjusted year-over-year.

The research found that online and other non-store sales were unchanged month-over-month seasonally adjusted but grew 20.1% unadjusted year-over-year.

We’ve reported that the Australian e-commerce market is expected to reach Australian $52.2 billion in 2020.

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