By Alan Wolf, YSN
The U.S. Census Bureau has confirmed what BrandSource members already knew: Appliance and electronics stores were rockin’ in July.
According to the agency’s latest monthly retail sales tally, sell-through for white-goods and consumer tech dealers rose 23 percent from June, far outpacing every other product category and distribution channel, including online-only merchants.
In contrast, overall retail sales in July were up 1.2 percent from June as the recovery from the impact of the coronavirus pandemic slowed for most of the retail sector. Among other store types, furniture and home furnishings showrooms were flat from June; home improvement stores were down 2.9 percent from the month prior; and sales for non-store, direct-sell retailers edged up 0.7 percent from June.
The National Retail Federation (NRF), the world’s largest retail trade association, attributed tech and appliance dealers’ double-digit gains to increased home improvement spending, greater demand for home office computers, and higher home sales.
Despite the overall slowdown, the NRF regarded the sales results as “another positive step in the right direction as our economy continues to slowly reopen,” said President/CEO Matthew Shay. “Americans are showing their continued resilience and willingness to spend in the face of this unprecedented pandemic and government actions to date have clearly supported consumers and the economy in this process. Retailers all across the country have demonstrated that their stores and supply chains can be operated safely and effectively for associates and their customers by following established guidelines and protocols.”