New York City -- Luxury, e-commerce and apparel enjoyed strong growth in April and the restaurant category surpassed last month’s gains, according to MasterCard Advisors SpendingPulse, a macroeconomic report tracking national retail and services sales. Electronics and appliance sales registered declines.
“Overall, retail sectors were mixed this month,” said Michael McNamara, VP, research and analysis for MasterCard Advisors SpendingPulse. “Several sectors showed continued year-over-year growth, while others were flat or even negative.”
According to McNamara, the shift in the Easter holiday between this year and last may have helped some of the comparisons, especially for apparel, groceries, flowers, and drug stores.
“On the other hand, unusually stormy weather in the South and Midwest may have cut down on shopping trips, and may have worked against particular sectors such as hardware,” he said.
Rising gas prices can have a variety of repercussions for retail, according to McNamara.
“First, we can expect consumers to make fewer shopping trips, especially on weekends, and this may contribute to an ever stronger growth for e-commerce,” he said. “Fewer miles driven also reduces demand for auto parts and services. Finally, casual dining restaurants can be negatively impacted.”
Here are sector results: