Retail sales saw steady growth in April, overcoming the ongoing challenges of high gas prices and sustained inflation, according to data from the CNBC/NRF Retail Monitor. Unlike survey-based estimates from the Census Bureau, the Retail Monitor relies on anonymized credit and debit card purchase data provided by Affinity Solutions, offering a more stable and immediate picture of consumer spending trends without requiring monthly or annual revisions.
April sales showed year-over-year gains in nearly every retail category, with notable increases in clothing, sporting goods, and health and personal care stores. Month-over-month growth was also observed across most categories, with one exception.
Strongest Performers Lead Yearly and Monthly Growth
Clothing and accessories stores saw the strongest performance, with sales rising 0.59% month over month on a seasonally adjusted basis and surging 9.75% year over year unadjusted. Sporting goods, hobby, music, and book stores followed closely, achieving a 0.12% month-over-month increase and an 8.55% year-over-year jump. Health and personal care stores also performed well, with sales growing 0.45% from the previous month and 8.42% compared to the same period last year.
Digital products, such as electronic books and games, stood out among other categories, gaining 1.11% month over month, seasonally adjusted, and 8.09% year over year unadjusted.
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Broader Retail Sector Shows Resilience
Other retail sectors demonstrated modest but positive growth patterns. General merchandise stores saw sales increase by 0.15% month over month and 6.19% year over year. Electronics and appliance stores recorded a 0.16% month-over-month rise and a 4.03% year-over-year boost. Grocery and beverage stores experienced a 0.36% month-over-month uptick and grew 3.21% over the past year.
Although furniture and home furnishings stores had a slight month-over-month decline of 0.06%, yearly sales remained positive, increasing 2.58%. Meanwhile, building and garden supply stores saw a marginal 0.09% month-over-month improvement, but sales dipped 2.74% year over year unadjusted – the only category to record a yearly decline.
The National Retail Federation (NRF), which oversees this data, continues to provide monthly insights into retail performance, offering a key resource for understanding consumer spending trends. These latest figures highlight the resilience of the retail sector despite economic pressures, as consumers adapt their purchasing behaviors in response to inflationary challenges.