Stimulus, Reopenings Drove 24% Bump in April Retail Sales: Mastercard
April U.S. retail sales grew 23.3% year on year, and 10.8% vs. April 2019, said a Thursday Mastercard report, citing stimulus payments, warmer weather and broader reopening after COVID-19 pandemic shutdowns. Online sales grew 19.9% and 95.6% over the same…
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time frames, it said. The retail sales recovery “has not been universal or consistent,” but general trends include a resurgence in restaurant spending, said Mastercard. April spending grew 119% and 5.7% vs. 2019, led by limited-service restaurants, but full-service eateries were down 13.5% vs. April 2020. Department stores had increased spending, up 203% from 2020 and 9.6% vs. 2019. Jewelry (255%) and lodging (319%) had some of the largest year-on-year gains, said the report. E-commerce sales remained elevated year on year, making up 21.6% of total retail spend, including 61.7% of apparel sales, it said. “People are excited to gather again, and they're refreshing their look for the occasion,” said analyst Steve Sadove.