Overall retail sales in March grew 0.5% seasonally adjusted from February. Credit: NilsW from Pixabay.

Retail sales in the US increased 0.5% in March this year from the previous month, according to data from the National Retail Federation (NRF).

The figures, based on data from the US Census Bureau, showed that retail sales during the month were up 6.9% year over year (YoY).

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Retail sales, excluding automobile dealers, gasoline stations and restaurants, were unchanged seasonally adjusted from February and were up 4% unadjusted YoY.

During the month, sales on clothing and clothing accessory stores grew 2.6% seasonally adjusted from the month earlier and up 7.5% unadjusted YoY.

Sales in grocery and beverage stores also rose 1% month-over-month seasonally adjusted and 7.9% unadjusted YoY.

See Also:

General merchandise stores grew 5.4% month-over-month seasonally adjusted and up 3.9% unadjusted YoY.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Online and other non-store sales increased 2.6% unadjusted YoY during the month but dropped 6.4% month-over-month seasonally adjusted.

NRF chief economist Jack Kleinhenz said: “While prices soared in March and eroded spending power, shoppers remained resilient, and sales were healthy. Consumers have the willingness to spend and their ability to do so has been supported by rapid hiring, increased wages, larger-than-usual tax refunds and the use of credit.

“They are largely dealing with the shock of gas prices but will be facing higher interest rates as the Federal Reserve tightens monetary policy in the coming months. The challenge for the Fed is to cool off demand without pushing the economy into a dramatic slowdown.”

In a separate development, NRF raised $3.22m at its seventh NRF Foundation Honors event, which will support the NRF Foundation’s programmes and resources in retail sector.