Retail sales reached $63.4 billion in March, a decrease of 1.5% compared with the same month one year earlier. Lower sales were reported in 13 of the 18 commodity classes.
The advance estimate provided by the Monthly Retail Trade Survey suggests that unadjusted total retail sales increased by 2.9% in April. Because of its preliminary nature, this figure will be revised.
In March, the largest decline in dollar terms came from sales of automotive and household fuels (-5.5%). Despite higher prices at the pump, sales of automotive fuels posted a decline of 2.3% compared with the same month in 2023. The second-largest decline in March 2024 came from lower sales of motor vehicles, down 1.9% from the same month the previous year.
With an earlier-than-usual Easter holiday season this year, sales of food and beverages increased 5.5% in March compared with the same month in 2023. The largest gain within this product class was posted by sales of cookies, confectionery, and snack foods (+12.8%).
Table 1: Sales by type of commodity, all retail stores - Seasonally unadjusted
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Note to readers
The Retail Commodity Survey collects national-level retail sales data, by commodity, from the same businesses surveyed in the Monthly Retail Trade Survey. No data have been seasonally adjusted. All percentage changes are year over year.
New classification standard
As of the January 2023 reference period, Retail Commodity Survey figures are based on the 2022 North American Product Classification System (NAPCS) and the North American Industry Classification System structures. These new classification structures have introduced new commodities, updated commodity definitions and broadened the industry scope for the estimates of the Retail Commodity Survey.
Tables 20-10-0016 and 20-10-0017 have been archived. National monthly commodity estimates in NAPCS 2022 are now available in table 20-10-0080 starting with January 2023. National industry-based quarterly commodity estimates are available in table 20-10-0071 starting in the first quarter of 2023.
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Reference
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