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UNITED STATES

NATIONAL RETAIL BULLETIN

Another 2023 Low for US Retail Sales

Release date: May 16, 2023

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April 2023 experienced very little growth with US retail sales growing 0.2% YOY for All Stores and All stores Less Automotive, Food, Pharmacies up 2.8% YOY. In a time of high inflation, and when comparing to double digit growth for nearly all months of 2022, this is a very low growth rate.

Discretionary categories took a hit in April with the following categories down:

  • Department Stores (excluding Leased Departments), down -1.8% YOY,
  • Clothing and Accessories Stores, down -4.1% YOY,
  • Furniture and Home Furnishings Stores, down -8.8% YOY,  
  • Electronics and Appliances Stores, down -8.2% YOY, and
  • Sporting Goods, Hobby, Musical Instrument, and Book Stores, down -9.2% YOY.

The JCWG team has mentioned numerous times the effects of inflation, the recession, and supply chain woes on discretionary retail categories, and April is no different. The decrease in these categories, with an increase in traffic at shopping centres, shows that consumers are still interested in window shopping and seeing products in person, even if they have a limited budget.

A less-discretionary category that also saw a decrease in April was Building Material and Garden Equipment Stores, down -5.7% YOY. This is particularly of note because one of the leaders in the category, Home Depot, saw their worst revenue miss in 20 years in Q1. The home improvement retailer said that the falling price of lumber and cold weather were the reason for this decline. Another reason, and one that the JCWG team thought was more relevant, was the fact that customers were delaying large projects and buying fewer big ticket items (like with the discretionary categories mentioned above).

The highest category growth in April is Food Service and Drinking Places, up 8.3% YOY. As the JCWG foodservices experts have noted before, people do not go to restaurants less/spend less eating out when they are experiencing the pressures of inflation, they simply opt for more price-conscious options.

Some things we are thinking about as we move through 2023 are:

  • How will discretionary spend categories adjust their strategies?
  • When will sales start to pick up again? Will they ever reach the growth rates of 2022 again?
  • Where are consumers going for more price-sensitive dinners/nights out?
  • How will YOU maintain a share of your customer’s discretionary spend?

For assistance in developing a strategy for periods of slow growth, inflation, and recession, reach out to JCWG.

The JCWG team is headed to RCC STORE23 May 30 & 31.  Be sure to catch Lisa Hutcheson, our Managing Partner, on the main stage in conversation with Michele Guimond, Vice President Marketing at Mountain Equipment Co. chatting about “Building the Future on People, Purpose, and Planet Principles” as well as the breakout session with an esteemed panel discussing ‘The Future of Shopping Centres and Real Estate”. If you and your team are going, connect with us for a coffee chat!

US Retail Sales by Product Category, Same Month Comparison

Sales for the Month of AprilApr-23Apr-22YOY
All Stores680,508679,4730.15%
Motor Vehicle and Parts Dealers133,606137,461-2.80%
Gasoline Stations53,61063,187-15.16%
All Stores Less Automotive493,292478,8253.02%
Food and Beverage Stores80,13777,8422.95%
Grocery Stores72,12469,9573.10%
Health and Personal Care Stores34,35932,4705.82%
All Stores Less Automotive, Food, Pharmacies378,796368,5132.79%
Building Material and Garden Equipment Stores43,89346,530-5.67%
General Merchandise Stores72,53969,6774.11%
Department Stores (Excluding Leased Departments)10,73910,930-1.75%
Clothing and Accessories Stores24,48525,539-4.13%
Furniture, Home Furnishings, Electronics and Appliance Stores17,79519,465-8.58%
Furniture and Home Furnishings Stores10,97612,040-8.84%
Electronics and Appliance Stores6,8197,425-8.16%
Sporting Goods, Hobby, Musical Instrument, and Book Stores7,3998,144-9.15%
Miscellaneous Store Retailers15,17114,9901.21%
Nonstore Retailers107,863101,3856.39%
Food Services and Drinking Places89,65182,7838.30%

US Retail Sales by Store Category, Year to Date Comparison

Year-to-Date Sales Ending AprilApr-23Apr-22YTD
All Stores2,616,3302,520,0183.82%
Motor Vehicle and Parts Dealers512,340509,4510.57%
Gasoline Stations206,084221,436-6.93%
All Stores Less Automotive1,897,9061,789,1316.08%
Food and Beverage Stores315,394301,6514.56%
Grocery Stores285,455272,3554.81%
Health and Personal Care Stores137,405128,1917.19%
All Stores Less Automotive, Food, Pharmacies1,445,1071,359,2896.31%
Building Material and Garden Equipment Stores155,851159,154-2.08%
General Merchandise Stores270,879256,6375.55%
Department Stores (Excluding Leased Departments)40,33339,6201.80%
Clothing and Accessories Stores89,67688,8550.92%
Furniture, Home Furnishings, Electronics and Appliance Stores72,87374,105-1.66%
Furniture and Home Furnishings Stores44,57045,281-1.57%
Electronics and Appliance Stores28,30328,824-1.81%
Sporting Goods, Hobby, Musical Instrument, and Book Stores29,74429,6460.33%
Miscellaneous Store Retailers56,58354,3064.19%
Nonstore Retailers425,911396,6237.38%
Food Services and Drinking Places343,590299,96314.54%

US Consumer Confidence Index (2010 = 100)

Join the discussion on this release here.


past national retail bulletins


  • US NRB February 2023

    March 15, 2023

  • US NRB January 2023

    February 15, 2023

  • US NRB December 2022

    January 18, 2023

  • US NRB November 2022

    December 15, 2022

  • US NRB October 2022

    November 16, 2022

  • US NRB September 2022

    October 14, 2022

  • US NRB August 2022

    September 15, 2022

  • US NRB July 2022

    August 17, 2022

  • US NRB June 2022

    July 15, 2022

  • US NRB May 2022

    June 15, 2022

  • US NRB April 2022

    May 17, 2022

  • US NRB March 2022

    April 14, 2022
Browse older…

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Your vision for a thriving business is integral to any economic infrastructure; your customers are at the centre of all planning and decisions. Creating a clear and concise roadmap that factors every facet of the customers’ experience is crucial for success. Your plan must consider vendors, tenants, landlords, developers, government agencies, and other facilities that your retail space will benefit or affect. Your collaboration with the JCWG team will ensure a detailed master plan that includes clear objectives supported by extensive research that considers every component of your business community.

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It may be your idea, our research results, or both. Once a potential retail concept is identified is needs to be developed and validated. The JCWG team has the capacity to develop the concept characteristics from aesthetic & functional planning, design standards, location requirements, capital requirement and validation through demand, trade area and benchmarking analysis.

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Winning brand equity must happen on so many platforms in today’s retail world with a consistent message and quantifiable return. JCWG understands comprehensive internal and external brand messaging that identifies the uniqueness and market advantage of a retail busines. Your collaboration with the JCWG team will strengthen your marketing strategy to build stronger connections with your audience through your brand.

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The amount of data available to customer-centric businesses can be overwhelming. Understanding the metrics’ influence on strategy is imperative to success. An experienced eye can save a lot of time and misguided investment to provide relevant and actionable insights.

The JCWG project team collaborative approach provides access to unparalleled experience to mine and capitalize on.

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  • Custom market studies and benchmarking
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JCWG supports retail-related businesses with a proprietary approach that is based on a strategic model developed through nearly 50 years of experience guiding clients. Retail strategy must translate vision into a plan which addresses the client’s resources to implement. JCWG focuses on delivering strategies with vision and is supported by a ‘nuts and bolts’ approach to operationalizing. JCWG applies strategic thinking processes and market research to develop or revitalize your strategy.

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  • Definition and prioritization of client goals, needs and wants
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