“The data for May indicates that the pull-forward in consumer demand ahead of tariffs is likely dissipating,” NRF President and CEO Matthew Shay said.
April sales were up in eight out of nine categories on a yearly basis, led by digital products, electronics and appliance stores, and grocery and beverage stores.
In early March, 46% of consumers reported stocking up on goods such as appliances and clothing out of concern that prices would rise.
“These results show that households are apprehensive and carefully navigating lingering inflation and turmoil related to changing economic policies,“ says NRF's Chief Economist.
Despite a monthly decline, six of nine retail categories showed year-over-year gains, led by online sales, health and personal care stores, and general merchandise.
While the latest CNBC/NRF Retail Monitor shows a slowdown following the holidays, it also highlights ongoing consumer confidence and spending capacity.
As the holiday shopping season gains momentum, new data provides an optimistic outlook for retailers. Consumers’ willingness to spend amid stable economic conditions sets the stage for a vibrant holiday season.
"Healthy spending resumed in October as consumers continued to benefit from this year’s job gains and higher wages.”
CNBC/NRF Retail Monitor finds total sales were up 2.08% year over year for the first eight months of the year.
