Retail Sales Up Slightly for August as Consumers Spend on Socialization and Wellness
September 21, 2023
In August, U.S. retail sales saw a 0.6% increase compared to July, indicating ongoing consumer spending despite economic concerns. Back-to-school shopping and strong apparel sales contributed to increased mall traffic, with lifestyle centers and outlets outperforming enclosed malls. Additionally, consumer spending trends show a surge in cat-related supplies, a growing demand for massage therapy, and a significant rise in Halloween costume sales, while Taylor Swift’s concerts had a notable positive impact on local economies, particularly in Nashville and Pittsburgh.
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