Electronics Store Sales Soared 90.8% in May, Says NRF
May retail sales through electronics and appliance stores, though down 3.4% sequentially from April, were up 90.8% from May 2020 when many physical store operations were closed or curtailed, reported the National Retail Federation Tuesday. Online and other non-store sales…
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were down 0.8% from April but up 8.2% year over year, it said. NRF attributed the marginal month-over-month declines in electronics and other sectors as “largely due to supply chain constraints.” Consumer demand “has continued to be strong even as the concentrated impact from government stimulus has faded,” said NRF. “There is still pent-up demand for retail goods and consumers are likely to remain on a growth path into the summer.”