Electronics, appliance stores and digital products each posted year-over-year gains of about 12% in July, among the strongest increases across retail categories.
Retail: US Retail Sales Extend Growth Streak as Electronics, Digital Products Lead
US retail sales increased for a 10th consecutive month in July, with electronics and digital products among the strongest-performing categories, according to the latest CNBC/NRF Retail Monitor from the National Retail Federation.
Electronics and appliance store sales were up 12.04% year over year, although they edged down 0.05% from June on a seasonally adjusted basis. Digital products, a category that includes electronic books and games, increased 12.02% year over year and 1.21% month over month. The strong performance in electronics came against more moderate growth across retail. Core retail sales, which exclude restaurants, automobile dealers, and gasoline stations, increased 0.3% from June and 4.72% year over year.
The electronics figures provide a useful indicator for the digital signage and ProAV sectors, particularly as retailers continue investing in digital experiences and in-store technology. But the broader numbers suggest a steadier rather than booming retail environment.