Mastercard SpendingPulse: U.S. Retail Sales Grew 11.0%* Year-Over-Year in June

Rhea-AI Summary

U.S. retail sales continued to rise in June, marking nine months of growth, with a year-over-year increase of 11.0% excluding automotive and gasoline. E-commerce grew 8.3% YOY, reflecting a shift to digital shopping. Notable increases in specific sectors included Restaurants (55.1% YOY), Department Stores (67.4% YOY), and Apparel (62.9% YOY). However, the Furniture & Furnishings sector saw its first negative growth of -5.3% YOY, despite remaining elevated 16.6% YO2Y. Mastercard SpendingPulse provides insights on national sales data and trends.

Positive

• U.S. retail sales increased 11.0% YOY in June.
• E-commerce sales grew 8.3% YOY, highlighting the shift to digital.
• Restaurants showed a remarkable growth of 55.1% YOY.
• Department Stores experienced a 67.4% YOY increase.
• Apparel sector sales rose by 62.9% YOY.

Negative

• Furniture & Furnishings sector recorded a decline of 5.3% YOY.

Just as summer months bring warmer weather, U.S. retail sales continue to heat up, with June marking the ninth consecutive month of total retail sales growth*. According to Mastercard SpendingPulse^TM, U.S. retail sales excluding automotive and gasoline increased +11.0% year-over-year in June and increased +10.4% compared to June 2019. E-commerce growth continued to hold steady +8.3% YOY/ +95.0% YO2Y, reflecting the ongoing shift to digital, driven by the pandemic. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment.

(Graphic: Business Wire)

Specifically, sales growth for Restaurants +55.1% YOY/ +16.8% YO2Y, Department Stores +67.4% YOY/ +11.8% YO2Y and Apparel +62.9.1% YOY/ +12.7% YO2Y are up as consumers continue to venture out more for meals and shop both online and in stores, refreshing their looks for summer camp, vacations and travel. Meanwhile, the Furniture & Furnishings sector experienced its first month of negative YOY growth -5.3% compared to last year's strong sales, when consumers were doing home projects in the midst of the pandemic, but sales remain elevated for the sector overall +16.6% YO2Y.

*excluding auto and gas

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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210708005272/en/

FAQ

What were the retail sales figures for June 2023 for Mastercard (MA)?

In June 2023, U.S. retail sales excluding automotive and gasoline rose by 11.0% year-over-year.

How did e-commerce perform in June 2023 according to Mastercard (MA)?

E-commerce grew by 8.3% year-over-year in June 2023.

What sectors showed significant retail sales growth in June 2023 for Mastercard (MA)?

Restaurants (+55.1% YOY), Department Stores (+67.4% YOY), and Apparel (+62.9% YOY) showed significant growth.

Did any retail sector experience a decline in June 2023 for Mastercard (MA)?

Yes, the Furniture & Furnishings sector saw a decline of 5.3% year-over-year.