Research Brief: Retail Sales- April 2022

Tangible locations account for larger slice of total retail sales. Store-based retail sales, which excludes online purchases and spending at restaurants and bars, represented nearly two-thirds of all retail sales in March, the largest proportion this year. The 2.1 percent rise in store-based spending recorded last month suggests consumer mobility is improving, and physical stores are noting a rise in foot traffic as health conditions improve and mandates are lifted. Receding online sales during the last two months further support this notion, with a broader shift in shopping behavior occurring despite widespread inflation and rapidly rising fuel prices.

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