The latest US Census Bureau report on retail performance in the US is out, and the results for August are positive. It continued an upward trend compared to July, and registered a very healthy gain YOY.
Sales were up 0.6% over July and they were up a very healthy 4.8% over August 2013.
Many have noted improved car sales of late, and USCB was in concurrence, registering a 9.5% YOY gain. Another big gainer was HBA, up 8.1% YOY.
In a year-to-date chart, USBC provided stats on a number of categories. After eight months, the total gain over the same point of 2013 was 3.7%. Out of 13 categories, only two were in negative territory.
Here are the categories ranked by percent gained, according to USCB.
7.5%: vehicle/parts dealers
6.5%: non-store retail
5.9%: HBA stores
4.9%: food/drink establishments
4.4%: building/garden dealers
2.8%: food/beverage stores
2.6%: furniture/home stores
1.5%: miscellaneous stores
1.4%: clothing/accessories stores
1.4%: general merchandise stores
1.2%: electronics/appliances stores
-1.2%: gas stations
-2.7%: sporting goods/hobby stores
RBR-TVBR observation: We think it is a very good sign that consumers are becoming reacquainted with retailers just ahead of the holiday shopping season.
We believe the list above will help tailor an approach to the purveyors of items in each category in your area.
For example, electronics are a perennial gift-giving favorite, but it looks like the category needs a shot in the arm. Your airspace may be just the medicine required. Sell it that way!
On the other hand, restaurants and bars seem to be doing OK. The pitch here is for each local purveyor of food and drink to strike while the striking is good, and also to make sure they get their fair share of the bounty.
Go get ‘em!