Retail sales in April remained flat during the past month, but showed dramatic growth year-over-year when compared to April 2020, according to a National Retail Federation press release.
“In March, we saw a surge in spending as stimulus checks came in, and that spending declined slightly in April,” NRF President and CEO Matthew Shay said. “Consumers are demonstrating that when they feel safe, they are both willing and able to spend and are driving the economy forward.”
The industry demonstrated 28.8 percent year-over-year growth though retail sales in April were virtually unchanged seasonally adjusted from March. According to U.S. Census Bureau data, sales have grown year-over-year every month since June 2020. Among those categories seeing slight month-over-month growth seasonally adjusted are electronics and appliances, health and personal care and grocery and beverage stores.