Policies & IssuesMay 06, 2021
US Economy Could See Fastest Growth Since the ‘80sSurveysMay 19, 2021
April Retail Sales Stall as Stimulus Spending Slows
Though month-over-month results were flat, strong year-over-year sales signal an economic recovery ahead, said the NRF.
Retail sales were unchanged month-over-month in April, but up 51 percent year-over-year.
New York—Retail sales in April were flat month-over-month as stimulus spending slowed, but strong year-over-year growth signals an economic recovery ahead.
Overall retail sales were unchanged month-over-month in April at $619.9 billion, according to data from the U.S. Department of Commerce, while year-over-year sales were up 51 percent.
The results fell short analyst expectations of a monthly gain of 1 percent.
Sales in March were up 10.7 percent month-over-month and up 29 percent year-over-year as per the revised figures.
“In March, we saw a surge in spending as stimulus checks came in, and that spending declined slightly in April,” said National Retail Federation CEO Matthew Shay in a press release about the results.
However, the strong year-over-year growth shows that household finances are strong, said Shay, and that an economic recovery will likely gain steam.
“Consumers are demonstrating that when they feel safe, they are both willing and able to spend and are driving the economy forward.”
Shay added the Centers for Disease Control and Prevention’s updated guidance relaxing mask mandates for fully vaccinated individuals should help the economy open up and get more people back to work.
Related stories will be right here …
Overall retail sales were unchanged month-over-month in April at $619.9 billion, according to data from the U.S. Department of Commerce, while year-over-year sales were up 51 percent.
The results fell short analyst expectations of a monthly gain of 1 percent.
Sales in March were up 10.7 percent month-over-month and up 29 percent year-over-year as per the revised figures.
“In March, we saw a surge in spending as stimulus checks came in, and that spending declined slightly in April,” said National Retail Federation CEO Matthew Shay in a press release about the results.
However, the strong year-over-year growth shows that household finances are strong, said Shay, and that an economic recovery will likely gain steam.
“Consumers are demonstrating that when they feel safe, they are both willing and able to spend and are driving the economy forward.”
Shay added the Centers for Disease Control and Prevention’s updated guidance relaxing mask mandates for fully vaccinated individuals should help the economy open up and get more people back to work.
NRF Chief Economist Jack Kleinhenz said the economy and consumer spending are more resilient than some would have believed a year ago, when temporary shutdowns were in full swing.
“Consumers may have tapped the brakes slightly in April compared with March, but it was like going from 100 mph to 85 mph compared with last year. The fuel from stimulus checks gave a strong boost to spending in March and the fact that April numbers are very close shows spending is clearly going forward and still strong.”
The NRF also narrows in on core retail sales, excluding auto sales, gas stations, and restaurants.
Its calculations show April sales were down 1.3 percent seasonally adjusted from March and up 28.8 percent unadjusted year-over-year.
April retail sales were down in two-thirds of retail categories on a monthly basis, but up across the board year-over-year.
Notable increases were seen in clothing, furniture, and sporting goods stores, which were mostly closed last year.
“Today’s year-over-year numbers are off the charts in some categories, reflecting the disparity between retailers that could remain open a year ago and those that were forced to shut down,” said Kleinhenz.
The NRF is forecasting 2021 retail sales will increase between 6.5 percent and 8.2 percent over 2020, totaling between $4.33 trillion and $4.4 trillion.
“Consumers may have tapped the brakes slightly in April compared with March, but it was like going from 100 mph to 85 mph compared with last year. The fuel from stimulus checks gave a strong boost to spending in March and the fact that April numbers are very close shows spending is clearly going forward and still strong.”
The NRF also narrows in on core retail sales, excluding auto sales, gas stations, and restaurants.
Its calculations show April sales were down 1.3 percent seasonally adjusted from March and up 28.8 percent unadjusted year-over-year.
April retail sales were down in two-thirds of retail categories on a monthly basis, but up across the board year-over-year.
Notable increases were seen in clothing, furniture, and sporting goods stores, which were mostly closed last year.
“Today’s year-over-year numbers are off the charts in some categories, reflecting the disparity between retailers that could remain open a year ago and those that were forced to shut down,” said Kleinhenz.
The NRF is forecasting 2021 retail sales will increase between 6.5 percent and 8.2 percent over 2020, totaling between $4.33 trillion and $4.4 trillion.
Editors' Picks
Sponsored by
More on Surveys
The Latest
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Weekly QuizSep 24, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
MajorsSep 23, 2026
Kay Jewelers’ New Campaign Goes ‘All In’ on LovePart of its brand relaunch, the marketing around the campaign includes a contest involving a jacket set with 550 diamonds.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
