Retail sales in the United States in June were up 1% versus May results across discretionary general merchandise and consumer packaged goods categories, according to market researcher and advisor Circana.
Circana reported unit demand was flat compared to June 2023, noting the steadying of unit sales, flattening average selling price comparisons, increased value options and promotional engagement indicate continued movement toward consumer spending stabilization.
Some product segments are seeing growth, Circana maintained, with the desire for little luxuries and social media’s influence pushing budget limits. Through the first half of 2024, the hottest selling categories included lip makeup and hair styling, as well as portable beverageware and specialty kitchen appliances.
“A growing group of consumers are living with a budget and assessing the need with an eye on value,” said Marshal Cohen, Circana chief retail industry advisor. “They are also figuring out how to save money without giving up what they really want, cutting back in one area of their budget to free up money to spend on the occasional splurge purchase. Consumers simply need to be given a reason to buy, a reason that resonates enough to warrant allocating part of their limited budget. Growth in the current retail climate depends on not only taking advantage of spontaneous event-based spending, but also identifying and activating on the reasons that will stimulate spending and create new sales peaks.”
