Bricks and mortar sales see continued rebound with double-digit growth
BUY, NY, May 05, 2022–(BUSINESS WIRE)–From a clean home to a fresh wardrobe, spring brings new beginnings and invites consumers to step out and back into the stores. According to Mastercard SpendingPulse™, which measures in-store and online retail sales for all payment methods, total non-automotive retail sales in April were up +7.2% year-over-year (YOY ) and +15.3% compared to pre-pandemic (2019) spending, not adjusted for inflation. This is similar to the monthly year-on-year growth recorded so far in 2022.
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Mastercard SpendingPulse April 2022 Snapshot (Graph: Business Wire)
April’s key trends build consumer resilience against inflation and highlight seasonal spending across all sectors and channels. To note :
Exit in store: In-store sales were up +10.0%, while e-commerce sales were down -1.8% from last year, reflecting consumer demand to go out. However, online sales remain high (+92.0%) compared to April 2019 before the pandemic. California, New York, Florida, Nevada and Illinois were among the states that brought back the brick-and-mortar charge.
Warm weather wardrobe: Consumers are refreshing their wardrobes for potential summer trips and the warmer months ahead have contributed to continued growth in apparel (+10.8% YoY / +8.4% pre-pandemic) ) and department stores (+15.7% YoY / +22.3% pre-pandemic), although rates have started to soften after hitting highs earlier this year.
Nesting season: Furniture and home furnishings sales, which saw the seventh consecutive month of positive growth, were up +3.8% year-on-year and +25.7% from pre-pandemic levels in 2019. As the very hot housing market begins to show signs of cooling, consumers continue to invest in their homes and nestle in for the seasons to come.
“Whether it’s a family barbecue, back to work, or a prom, it seems like everyone is looking for something,” said Steve Sadove, senior adviser to Mastercard and former CEO and chairman of Saks Incorporated. “Mastercard SpendingPulse shows spending across all industries in April.”
*Excluding car sales.
About Mastercard SpendingPulse:
Mastercard SpendingPulse reports domestic retail sales for all payment types in select markets around the world. Results are based on overall sales activity in the Mastercard payment network, coupled with survey-based estimates for certain other payment methods, such as cash and check.
Mastercard SpendingPulse defines “US retail sales” as sales at retailers and foodservice merchants of all sizes. Sales activities in the service sector (eg travel services such as airlines and accommodation) are not included. Expenditure information is preliminary.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside our company. With connections in more than 210 countries and territories, we are building a sustainable world that unlocks invaluable opportunity for all. www.mastercard.com
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