U.S. retail sales in June grew more than expected! Demand for multiple categories increased

It is learned that according to data from Mastercard SpendingPulse, total U.S. retail sales (excluding auto dealers, gas stations and restaurants) in June increased by 9.5% year-on-year, which was higher than expected.

Data showed that offline sales continued to rebound in June, up 10.7% year-on-year. E-commerce sales were slightly weaker, up 1.1% year-on-year. Overall, U.S. household consumer spending in June fell from May, but was comparable to the level at the beginning of 2022.

It is learned that due to the impact of inflation, sales of fuel and convenience products soared 42.1% in June, and grocery store sales surged 14.1%.

In addition, due to the relaxation of mask policies, the United States ushered in a tourism boom in June, with consumers' spending on air travel services increasing by 18.2% and spending on accommodation services soaring by 33.7%.

With the increase in outbound travel, people's demand for clothing and accessories has also surged. Sales of jewelry (16.2%) and clothing (13.1%) also saw double-digit year-on-year growth.

It is worth noting that in June, demand for electronic products (4.6%), home furnishings and furniture (4.2%), and luxury goods (4.0%) showed smaller increases.

From the perspective of various sectors, inflation has had different effects on Americans' basic consumer spending and disposable consumer spending. On the one hand, consumers spend more money on essential consumer goods such as food and fuel, and on the other hand, Americans are also pursuing a high quality of life, and going out for travel and dressing up are also popular.

Editor ✎ Nicole/

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