U.S. retail sales increased 8.7% year-on-year in February! The apparel industry performed the best!

It is learned that according to data from Mastercard SpendingPulse, US consumers continued to maintain strong spending in February, with total retail sales increasing by 8.7% year-on-year and 17.3% compared to before the epidemic (February 2019).

Data shows that U.S. e-commerce sales increased 4.4% year-on-year in February, up 85.9% from February 2019. In-store sales increased 10% year-on-year, up 8.0% from February 2019.

MasterCard pointed out that the increase in inflation in February has brought new changes to US retail trends:

• Sales in the clothing industry increased by 37.6% year-on-year, compared with 34.3% in February 2019, still maintaining a high growth rate;
• The furniture and home furnishings industry grew 10.8% year-on-year and 17.9% compared to February 2019;
• The jewellery industry grew 22.4% year-on-year and 24.2% compared to February 2019;
• Department stores grew 26.3% year-on-year, compared to 3.4% in February 2019, maintaining high growth;
• Restaurant sales increased 39% year-over-year and increased 24.2% compared to February 2019.

It can be seen that with the lifting of the epidemic blockade, sales in restaurants, department stores and other stores in the United States have begun to increase. However, online shopping is still one of the favorite shopping methods for American consumers. With the demand to return to offices and schools, the clothing industry has begun to make profits.

Mastercard CEO Steve Sadove said that although there is inflation, American consumers are also working hard to meet their shopping needs. Undoubtedly, industries such as clothing, department stores, luxury goods and jewelry will benefit more from it.

Editor ✎ Nicole/

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