Retail sales across the US saw solid growth in April, as consumers pulled forward purchases in anticipation of price increases tied to incoming tariffs, according to the latest figures from the CNBC/NRF Retail Monitor powered by Affinity Solutions.
Total retail sales, excluding autos and fuel, rose 0.72% month over month and 6.76% year over year on an unadjusted basis. Core retail sales, which also exclude restaurants, climbed 0.9% over March and 7.11% compared to April 2024.
The jump follows more modest growth in March, where total retail sales increased 0.6% from the prior month and 4.75% year over year.
National Retail Federation (NRF) CEO Matthew Shay said the data suggests consumers are advancing purchases to avoid potential inflation from tariff-related price hikes. “Despite a dip in consumer confidence, strong fundamentals like low unemployment, steady wage growth, and healthy household balance sheets are supporting spending,” he said.
Category highlights
Digital products continued to lead growth, with sales up 0.62% month over month and a significant 27.67% increase year over year.
Other strong-performing sectors included:
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Electronics & appliances: up 2.8% monthly, 10.5% annually
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Grocery & beverage stores: up 0.59% monthly, 9.51% annually
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Health & personal care: up 1.43% monthly, 8.51% annually
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Sporting goods, hobbies, books & music: up 0.81% monthly, 9.19% annually
Some sectors saw mixed results. General merchandise stores posted a slight 0.02% monthly decline but still grew 6.67% year over year. Building and garden supply stores rose 2.77% month over month but were down 2.1% annually.
Looking ahead
Analysts warn that while the April figures are encouraging, consumer behaviour may continue to shift as tariff impacts take hold. Retailers are expected to adapt quickly to changing demand patterns and pricing sensitivity as inflationary pressures remain in focus.
The data indicates many shoppers are acting pre-emptively, aiming to sidestep cost increases before they filter through the supply chain, a trend that could influence sales volatility in the months ahead.
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