Retail sales increased again in August as consumer demand and easing inflation overcame slower job growth, the latest CNBC/NRF Retail Monitor reports. Total retail sales, excluding automobiles and gasoline, were up 0.45% seasonally adjusted month over month and up 2.11% unadjusted year over year in August, according to the Retail Monitor. That compared with increases of 0.74% month over month and 0.92% year over year in July.
“Retail sales data shows that consumers continued to spend on household priorities in August,” National Retail Federation President and CEO Matthew Shay said. “This is despite a slowing labor market that is expected to prompt the Fed to finally lower interest rates in September. Even with slower employment growth, unemployment is near historical lows and ongoing job and wage gains coupled with lower inflation should keep consumers on solid footing heading into the holiday season. Lower interest rates take time to trickle down and won’t provide an immediate boost but should stabilize the economy.”
August sales were up in five out of nine retail categories on a yearly basis, led by online sales, clothing and accessories stores and health and personal care stores. Sales were also up in five categories on a monthly basis.
Unlike survey-based numbers collected by the U.S. Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
Click here for more from the latest Monitor.
Ready to Relocate? Wilkerson Makes Your Move Seamless
When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time.
"We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them.
Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."
