Brick-and-mortar retail is quickly making a comeback. With the combined increase in retail sales in May and June, along with our positive portfolio results at SREG, we believe in-store spending is on its way to a healthy recovery.
Taking our optimism one step further, Cardlytics US State of Spend Report released data that showed year-over-year growth for in-store retail sales. The recent study compared the same period to 2019 and found that spending at brick-and-mortar retailers was up 1.2%. Mass merchandisers also saw an increase of 3.3%.
Retail’s share of consumer spend has consistently remained higher than it was before the pandemic hit, first spiking in April. In June, retail was up 8.1 share points since February.
The grocery sector has also been soaring with consumers stocking up on quarantine essentials — increasing by 7.9 share points between February and March.