Consumer Behavior

Stimulus money drives big retail sales activity

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April 19, 2021

Retail sales jumped 9.8% in March primarily due to the additional stimulus money doled out by the federal government.

The spend was focused on bar and restaurant activity, according to a CNBC report citing Commerce Department data.

Consumers were also busy buying sporting goods and clothing and the March figure was the highest since May of 2020 when retail sales spiked 18.13%. That jump was due to the first stimulus check, noted the report.

Industry watchers expect the spend to dip this month but noted vaccination activity could keep retail sales spend at a healthy level.