US retail sales increased 7.2% year-on-year in April! Demand for jewelry and luxury goods increased!

It is learned that according to data from Mastercard SpendingPulse, total U.S. retail sales (excluding auto dealers, gas stations and restaurants) increased by 7.2% year-on-year in April, remaining relatively stable.

Data shows that physical store sales continued to recover in April, with double-digit growth of 10.0%. E-commerce sales were slightly weak, down 1.8% year-on-year. However, compared with the same period in 2019, e-commerce sales in April increased by 15.3%. This means that the level of online shopping in the United States is still very high.

It is learned that in April, the demand for jewelry and luxury goods increased significantly, with sales increasing by 33.3% and 26.0% year-on-year respectively. At the same time, the clothing and department store industries continued to grow, achieving year-on-year growth of 10.8% and 15.7% respectively.

In addition, the furniture and decoration industry grew by 3.8% year-on-year in April, up 25.7% from the same period in 2019, achieving positive growth for seven consecutive months. Despite the negative phenomena in the US real estate industry, consumers will continue to invest and repair their homes.

Mastercard senior advisor Steve Sadove said that with the arrival of spring, the United States has set off a craze for family barbecues, returning to the office and senior dances. Even in the face of inflation, consumer spending in April remained strong, up 15.3% year-on-year.

Editor ✎ Nicole/

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