Retail spending is not showing a good sign of recovering this is no surprise with the coronavirus rates still surging and past restrictions on outings to restaurants and stores are being brought back in some places once again. The new stats as seen in a new npr report http://org/sections/coronavirus-live-updates/2020/12/16/946783072/shoppers-stayed-away-from-stores-and-restaurants-sending-sales-lower. Shows spending has did the opposite and plummeted this has not been seen since the plunge back in April.
The Commerce Department also revised October’s data to show a decline of 0.1% instead of an increase of 0.3%.
For November, here’s where the data showed people spending, compared with a month earlier:
- Grocery stores: +1.9%
- Home improvement and gardening stores: +1.1%
- Online retailers: +0.2%
- Sports, music and other hobby stores: -0.6%
- Big-box stores: -1%
- Furniture stores: -1.1%
- Electronics stores: -3.5%
- Restaurants and bars: -4%
- Clothing and accessories stores: -6.8%
- Department stores: -7.7%
You can see the full report on: org/sections/coronavirus-live-updates/2020/12/16/946783072/shoppers-stayed-away-from-stores-and-restaurants-sending-sales-lower
Let’s hope with the new vaccines are available to all U.S citizens. We will then see confidence in shoppers returning and numbers will start to climb. Now the only thing is waiting, let’s hope for soon.
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