Mastercard SpendingPulse: April U.S. Retail Sales Grow 23.3%* as Trends Point to a Recovering Economy
May 06 2021 - 5:01AM
Business Wire
Restaurant sector posts second consecutive month of positive
growth as Americans are hungry to get out and spend
Total U.S. retail sales sprung into another month of
double-digit growth in April, according to Mastercard
SpendingPulseTM, which measures in-store and online retail sales
across all forms of payment. U.S. retail sales excluding automotive
and gasoline increased 23.3% year-over-year in April, and 10.8%
compared to April 2019. Online sales in April grew 19.9% and 95.6%,
respectively, compared to the same periods.
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A Return to U.S. Restaurant Sales Growth
(Graphic: Business Wire)
Retail sales continue to benefit from stimulus payments, coupled
with warmer weather and broader reopening across the country. While
the recovery has not been universal or consistent – due to
geographical, economic, and household differences – there are a
number of key overarching trends.
Restaurant Resurgence: April marks the second consecutive
month of positive growth for the Restaurant category, underscoring
that consumers have an appetite to eat out again. Spending at
restaurants grew 118.8% vs. 2020, when widespread shut-downs
crippled the industry, and were up 5.7% compared 2019.
Limited-service Restaurants, such as fast-food, were up
21.7% compared to 2019, outpacing their Full-service
counterparts (-13.5% YO2Y).
Online Convenience: Despite the record shattering
e-commerce growth in April 2020, online sales remained up
year-over-year. E-commerce share continues to make up a bigger
portion of total retail spend overall (21.6%), as well as in
categories such as Apparel (61.7%), Department Stores
(21.0%) and Jewelry (15.7%).
Department Stores See a Boost: Many of the depressed
sectors in 2020, including Department Stores (+202.7%),
Jewelry (+255%) and Lodging (+319.1%), are showing
some of the largest year-over-year gains as retailers gear up for
the return of gatherings and events. Department Stores grew 9.6%
compared to 2019.
“April's retail sales growth reinforces that the American
consumer is healthy and eager to spend, especially on categories
such as restaurants, which have faced restrictions over the past
year,” said Steve Sadove, Mastercard senior advisor and former CEO
of Saks, Inc. “There are a lot of factors at play including
stimulus funds, pent-up demand, and the desire to reconnect with
friends and family. The fact is that people are excited to gather
again and they're refreshing their look for the occasion.”
*Overall retail sales excluding gasoline and automotive compared
to April 2020
About Mastercard SpendingPulse Mastercard SpendingPulse™
reports on national retail sales across all payment types in select
markets around the world. The findings are based on aggregate sales
activity in the Mastercard payments network, coupled with
survey-based estimates for certain other payment forms, such as
cash and check. As such, SpendingPulse™ insights do not in any way
contain, reflect or relate to actual Mastercard operational or
financial performance, or specific payment-card-issuer data.
Mastercard SpendingPulse defines:
- U.S. retail sales: As sales at retailers and food services
merchants of all sizes. Sales activity within the services sector
(for example, travel services such as airlines and lodging) are not
included.
- Restaurants: All full-service restaurants and limited-service
eating places
- Full-Service: Fine Dining (high-end steakhouses, seafood, and
other restaurants), Casual Dining (mid-priced casual dining
establishments), Family Dining (budget-priced family oriented
establishments)
- Limited-Service: Quick service (traditional quick-service low
priced restaurants), Fast Casual (limited service restaurants that
offer upscale menus)
About Mastercard (NYSE: MA) Mastercard is a global
technology company in the payments industry. Our mission is to
connect and power an inclusive, digital economy that benefits
everyone, everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and
passion, our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. Our decency quotient, or DQ, drives our culture and
everything we do inside and outside of our company. With
connections across more than 210 countries and territories, we are
building a sustainable world that unlocks priceless possibilities
for all. www.mastercard.com
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Media William Tsang, Mastercard 914.249.2640 |
William.Tsang@mastercard.com
Julia Monti, Mastercard 914.217.9533 |
Julia.Monti@mastercard.com
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