Retail Tech Spending in 3rd Full Week of April Jumped 20% Over 2019, Says NPD
Consumer retail spending for the week ended April 25 increased 7% from a week earlier and was the fourth straight week of improvement, reported NPD Tuesday. Spending growth was flat compared with the same 2019 week, and was the first…
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time sales didn’t decline since early March, before the COVID-19 pandemic began, it said: “As promising as these spending indicators may seem, there are many challenges to overcome before there is actual retail recovery.” There’s “much uncertainty still looming” over consumer buying behavior, and that likely will continue “for the foreseeable future.” NPD’s weekly retail tracking data showed tech spending in the week ended April 25 jumped 20% over the same 2019 week, it said. “Checkout receipt-based data shows that the week of April 19 through 25 was the first week since the COVID-19 crisis began that total retail purchasing traffic showed improvement from the prior week, driven by both online and at physical store locations still open for business.”