Figure | Creating Resilience
US Retail Recovery Indicators May 2021
April 30, 2021
- Across the economy, the U.S. is continuing to rebound from the COVID-19 pandemic. Consumer sentiment has reached its highest levels since the start of the pandemic in March 2020, while new jobless claims decrease and employment rolls continue to expand.
- The retail market is also showing signs of recovery. Total retail sales increased 28% year-over-year in March 2021, driven by consumers spending government stimulus checks as well as retail stores continuing to re-open their doors. Every retail category tracked by the U.S. Census Bureau recorded positive sales growth on a monthly basis in March.
- Mobility continues to trend upwards on a national level but varies widely across markets due to local COVID-related restrictions. Overall, consumers appear to be doing more walking and driving, while mass transit utilization remains significantly below pre-pandemic levels.