Consumer Behavior

Retail sales on very healthy rebound track

Photo by istock.com

June 17, 2020

Federal figures regarding retail sales reveal consumers are busy, busy, busy shopping at this point in the wake of the coronavirus pandemic.

In fact, retail sales bested market and analyst expectations for May with a 17.7% spike in sales activity — more than double what economists projected for the month, according to a CNBC report.

The sales data reflects quite a gain from the 16.4% dip in sales in April, according to the report. Top retail segments including clothing and accessories followed by hobby, book sales and sporting good purchases.