Tech & Appliance Retail Sales Edged Up 1.7% In April

Consumer spending spurred by tax cuts, NRF says
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More shoppers will let their fingers do the walking this Black Friday.

Electronics and appliance retailers saw a 1.7 percent uptick in year-over-year sales last month.

According to the U.S. Census Bureau’s latest monthly tally, their April haul totaled $8.3 billion, essentially flat from March.

By comparison, furniture and home furnishings stores were up 6.1 percent year over year in April; direct sellers saw a 9.6 percent sales spike; and retailers across the board (excluding food service and car dealers) were ahead 4.8 percent, based on Census Bureau estimates that were adjusted for seasonal variation and calendar differences.

National Retail Federation (NRF) chief economist Jack Kleinhenz attributed the gains to a solid job market, recent wage increases, higher consumer confidence, and the stimulative effect of tax cuts on household spending.

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Together those factors should help offset the bumpy financial markets, bouts of extreme weather and the surge in gasoline prices, he said.


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