Retail Sales Research Brief: May 2024

Brick-and-Mortar Sales Overshadow Drop in Core Retail Spending

Consumer durability has sector on solid footing. Store-based retail sales in April — which exclude purchases made online and at restaurants and bars — ranked as the second-highest total on record. While inflation and consumers’ prioritization of groceries played a large role, the onset of spring also had an impact. Motivated by warmer weather and upcoming travel plans, households increased their spending on clothing and building and gardening materials, with the two retail categories noting monthly gains of 1.6 and 0.5 percent, respectively. Overall retail sales rose 3.0 percent in April from the year before. Should these spending trends continue, paired with limited retail construction, demand for available space will remain strong.

Click on image below for the full report.

#RetailSales #BrickAndMortar #RetailMarket #SpringSales #GrocerySpending #RestaurantSpending #RetailTrends #ConsumerSpending #RetailResearch #RetailInvestment #NetLease #RetailVacancy #RetailConstruction #RetailJobs #StoreClosures #Marcus&Millichap