U.S. retail sales, along with e-commerce grocery sales, spiked in March, with consumers reporting increased confidence relating to COVID-19 vaccination rates and stimulus checks.
Overall retail sales in March rose 9.8 percent seasonally adjusted from February, and hiked 27.7 percent year-over-year, according to the U.S. Census Bureau.
Retail sales surged 17.7 percent unadjusted year-over year and 7.4 percent seasonally adjusted from February, according to National Retail Federation (NRF) data, which excludes gasoline, auto, and restaurant sales. Conversely, there was a 3.4 percent decline in retail sales in February.
“American households are clearly feeling the full effect of additional fiscal stimulus, gains in the job market, and the reopening of the economy,” NRF President and CEO Matthew Shay said.
However, grocery and beverage store sales dropped 10.2 percent in March unadjusted year-over-year, according to NRF, and they rose only 0.7 percent compared to February.
Another positive indicator is U.S. online grocery sales, which spiked 43 percent in March versus a year ago to USD 9.3 billion (EUR 7.8 billion), according to Brick Meets Click. More than 69 million households placed an average of 2.8 online orders during the month.
“A year since COVID-19 changed how we live, work, and shop, online grocery demonstrates continued strength and impressive staying power,” Brick Meets Click Partner David Bishop said in a press release.
There was a perfect alignment of factors supporting a surge in shopping in March, according to NRF Chief Economist Jack Kleinhenz.
“Further reopening of the economy was encouraged by economic stimulus payments, the public health situation improved with more vaccinations, employment grew, and there was seasonal activity around Passover, Easter, and spring break,” Kleinhenz said.
Despite the pause on the delivery of the Johnson and Johnson COVID-19 vaccine, consumer confidence “remains high and an optimistic outlook for the future continues to grow,” Shay said.
Photo courtesy of LADO/Shutterstock
