- August 12, 2025
- Posted by: Regent Harbor Team
- Category: Business
markdown
Contents
Retail Therapy in July: A New Yorker’s Perspective
So, guess what? July turned into quite the retail spectacle here in the States! Folks went on a shopping spree, taking advantage of summer sales and dodging those looming tariff hikes. The CNBC/NRF Retail Monitor powered by Affinity Solutions recorded some eye-popping stats.
The Numbers Don’t Lie
Retail sales, excluding the usual suspects like cars and gas, saw a nifty 1.45% jump from June. It gets better, they were up 5.89% compared to last year! Core sales, leaving out restaurants too, grew 1.55% month-on-month and nearly 6% on an annual basis.
| Category | Month-on-Month Growth | Year-on-Year Growth |
|---|---|---|
| Digital Products | 1.35% | 25.01% |
| Sporting Goods, Hobby, Music, Books | 2.36% | 9.99% |
| General Merchandise | 2.04% | 6.94% |
| Clothing & Accessories | 1.75% | 6.73% |
| Grocery & Beverage | 1.43% | 5.42% |
| Health & Personal Care | 1.69% | 4.44% |
| Electronics & Appliances | -0.51% | 2.11% |
| Furniture & Home Furnishings | 0.98% | 1.53% |
| Building & Garden Supplies | 1.32% | -4.11% |
The Shopper’s Mindset
Almost every retail sector saw growth. Digital stuff—think books and games—boomed by 25% from last year. Sporting goods weren’t far behind, clocking a neat 10% rise annually. General merchandise, clothing, and even grocery items also reported respectable jumps.
The Shay Way
According to the NRF CEO, Matthew Shay, successful summer promotions drove this retail resurgence. Consumers were pulling purchases forward, avoiding those tariff-induced price tags. It’s like people felt an invisible timer ticking, prompting early buys.
The Economics 101
Despite slower job growth, wages did a little dance above inflation. This kept consumers’ wallets open for essentials. Through the first seven months of 2025, total retail sales were up 4.83% year-on-year. It was a sunnier performance than the National Retail Federation’s annual growth expectation of 2.7% to 3.7%.
Bumps on the Road
Not all sectors enjoyed the sunshine. Electronics and appliances dipped slightly, even though they held a 2.11% year-on-year lead. Building and garden supplies, unexpectedly, were the only ones catching raindrops; they dropped 4.11% year-on-year despite a slight monthly bump.
Looking Ahead
As retail continues its dance, navigating the tariff landscape will be key. The market’s twist and turns might be unpredictable, but with real-time data, staying ahead is possible. Check out GlobalData’s Strategic Intelligence for insights.
Retail’s rhythm keeps pulsing, and isn’t it a beat to watch how New Yorkers and beyond keep step with it?
This article was originally spun at the Retail Insight Network, a GlobalData brand.
