Headlines

Retail Sales Saw July Decline

Overall retail sales fell 1.1 percent in July.

Published

3 years ago

August 23, 2021

INSTORE Staff

Retail sales reportedly declined 1.1 percent in July, which was worse than the anticipated decline of 0.3 percent, reports CNBC.

Book stores, Musical instrument and sporting goods stores had a sales decrease of 1.9 percent, and clothing took a 2.6 percent dip. Car and motor vehicle parts dealers’ sales fell 3.9 percent. Online sales also had a decline of 3.1 percent.

Despite this, food and beverage sales were up 1.7 percent and gas sales saw a 2.4 percent increase. Restaurants and bars also had a 38.4 percent increase in sales from this time a year ago.

“Although retail sales fell in July, the outlook for consumer spending remains positive … However, spending growth will shift from goods to services over the next couple of years, limiting growth in most categories of retail sales,” says Gus Faucher, Chief U.S. Economist at PNC, CNBC reports.

Looking for a Seamless Sale? Call Wilkerson

After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”