Spring, and this spring especially, brings fresh starts and beckons consumers out of the house and back into stores as they consider refreshing their lifestyles with everything from a good house cleaning to a new wardrobe, which may have promoted a significant April retail sales increase, according to Mastercard SpendingPulse.
Key April trends in the SpendingPulse study suggested that consumers remain resilient in the face of inflation, Mastercard noted. Trends include:
Springing into stores. In-store sales gained 10.0% while e-commerce sales slipped1.8% compared to April of last year, reflecting a consumer desire to get out of the house. Still, online sales remain elevated, up 92% as compared to pre-pandemic April 2019. California, New York, Florida, Nevada and Illinois were among the states leading the shift back to brick-and-mortar.
Nesting Season. Furniture and Furnishing sales, which have enjoyed seven consecutive months of positive growth, advanced 3.8% in April year over year and 25.7% versus pre-pandemic 2019. While a super-hot housing market has shown signs of cooling, consumers continue investing in their homes and feathering their nests.
Warm Weather Wardrobe. Consumers refreshing their closets for potential summer travel and the warmer months ahead contributed to continued growth for Apparel, up 10.8% in the month versus 2021 and 8.4% versus pre-pandemic 2019, as well as Department Stores, up 15.7% in the month versus 2021 and 22.3% versus pre-pandemic 2019, even if rates have softened from the peaks earlier this year.
“Whether for a family barbeque, returning to the office or senior prom, it seems like everyone is out shopping for something,” said Steve Sadove, Mastercard senior advisor and former Saks CEO and chairman. “Mastercard SpendingPulse shows spending across sectors in April.”
