Stronger than expected US retail results continued through June, even in the aftermath of a strong Prime Days promotional period, according to ‘Retail Early Indicator’ data from The NPD Group, which found dollar sales of US discretionary general merchandise rose by 18 per cent in the week ending July 3 over the same period two years ago, continuing at a pace exceeding the 8 per cent growth over last year.
“The consumer's definition of value has changed. Rather than looking for deals, consumers are finding value in the ability to get what they want and need now,” said Marshal Cohen, chief retail industry advisor for NPD, in a press release.Stronger than expected US retail results continued through June, even in the aftermath of a strong Prime Days promotional period, according to 'Retail Early Indicator' data from The NPD Group, which found dollar sales of US discretionary general merchandise rose by 18 per cent in the week ending July 3 this year over the same period two years ago.#
How much, and what consumers are spending in is just part of the story. Checkout information from NPD reveals that where and how consumers are shopping has changed as well. Some retail channels have experienced continued growth fortified by the pandemic, others benefited from pent-up demand, while others faced inescapable challenges.
Trends solidified by habits formed during the pandemic as mass merchants, warehouse clubs, pure-play e-commerce, home hardware and other channels have experienced growth over the past few years.
Lifted restrictions have given a boost to department stores, national chains, and apparel specialty following a difficult year, but not enough to get them back to normal levels.
“The continuation of robust retail spending proves that experiential spending isn't roaring back,” added Cohen.
Fibre2Fashion News Desk (DS)
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