Consumer Behavior

Consumers remain engaged as retail sales rise

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May 17, 2023

April was a rebound month when it came to retail sales and consumers remained engaged, according to the National Retail Federation.

Sales showed growth both compared to the previous month of March and compared to April 2022, reflecting consumer resilience, according to the NRF.

"Moderating price levels, continued labor market strength and wage gains have increased consumers' ability to spend. However, they remain cautious and concerned about the current economic environment. Retailers continue to provide competitive pricing and convenience to help cost-sensitive consumers stretch their budgets," Matthew Shay, NRF president and CEO, said in a press release.

The organization cited U.S. Census Bureau data that revealed overall retail sales in April was up 0.4% from March and 1.6% from a year ago April. NRF's calculation of retail sales — which excludes automobile dealers, gasoline stations and restaurants to focus on core retail — showed April was up 0.6% from March and up 2% unadjusted year over year.