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In-store sales growth continued to outpace that of online shopping in June, though e-commerce sales may get a big boost next week.
According to the Mastercard Inc. SpendingPulse report, in-store sales increased 11.7% last month over June 2021, and were up 10.7% from June 2019. And, while e-commerce sales experienced a 1.1% growth year-over-year, online sales are up a whopping 97.6% from June 2019, prior to the pandemic.
E-commerce sales may or may not increase this month with the expected sales boost from Amazon.com Inc.’s Prime Day shopping event starting July 12. Many Prime Day shoppers will be able to use Affirm Inc.’s buy now, pay later service. Amazon posted $116.4 billion.
The Mastercard report said total retail sales, excluding automotive, increased 9.5% in June from June 2021. Compared to June 2019, total retail sales were up 20.8%.
By category, the fuel-and-convenience segment posted the most growth in June, at 42.1%, and hardware, at 2.6%, the smallest growth. “Rising prices—particularly for necessities such as food and fuel—were a contributing factor, as Mastercard SpendingPulse reflects nominal spending and is not adjusted for inflation,” the report said.
“Sector by sector, we’re seeing a varied picture of how inflation is impacting essential vs discretionary consumer spending,” said Steve Sadove, senior advisor for Mastercard and former chief executive and chairman of Saks Inc., in a statement. “One notable highlight is that travel sectors such as airlines and lodging continue to show signs of strong demand.” Last month, the airline segment was up 18.2% while lodging grew 33.7%.
