May 9, 2024 — The National Retail Federation (NRF) reports retail sales growth in April compared to March with a slight year-over-year decline due to the timing of Easter.

“The ability to spend is supported by a growing job market and real gains in wages. Overall inflation remains stubborn because of elevated prices for services, while inflation for goods has dropped to nearly zero,” says NRF president and CEO Matthew Shay. “Consumers remain focused on value and price and are shifting their spending patterns where needed to make ends meet.”

The Retail Monitor showed total retail sales in April, excluding auto dealers and gas stations, up by 0.26% seasonally adjusted month over month but down 0.6% unadjusted year over year in April. Its calculation of core retail sales—excluding restaurants in addition to auto dealers and gas stations—showed a 0.4% increase compared to March and almost unchanged, down just 0.005%, compared to last year.

The NRF shares that the year-over-year decline appears to be a reflection of an earlier Easter, taking place in March instead of April, and two fewer weekend days in April this year. Despite this, total sales were up 1.82% year over year for the first four months and core sales were up 2.31%.

The following are some specifics from key sectors, seasonally adjusted month over month and unadjusted year over year:

• Online and other non-store sales were up 1.18% from March and up 13.88% compared to 2023.
• Health and personal care stores were up 0.85% from March and up 5.26% compared to 2023.
• Clothing and accessories stores were up 0.46% from March and up 2.08% compared to 2023.
• General merchandise stores were up 0.26% from March and up 0.69% compared to 2023.
• Sporting goods, hobby, music, and bookstores were up 0.26% from March but down 0.38% compared to 2023.