U.S. consumer spending in February stabilized following January’s weather-driven volatility, with overall retail sales revenue rising 1.3% in February compared to the same period last year, with a 1% decline in unit sales.
Despite the challenging economic environment, consumers are still looking for ways to improve their daily lives at home — and are also looking for ways to inject connection, joy and wellness.
Total retail spending held steady in December as consumers continued to spend, but they also made it clear —through reduced demand — that they have limitations.
Overall retail spending held steady in November, but Black Friday week and Cyber week combined resulted in a 2% dollar and nearly 5% unit decline from last year.