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Emerging Trends In Consumer Spending And Retail Sales

Emerging Trends In Consumer Spending And Retail Sales

June 15, 2021 at 04:00PM
by PYMNTS

Low-end retailers like Dollar Tree are betting big on the return to in-person shopping, with new stores and new aesthetics lined up to entice shoppers as lockdowns ease nationwide. Following an unexpectedly bleak April, May’s retail sales will provide another valuable look at how eager shoppers are to get back to spending. When they do, shoppers will be greeted by waves of newly hired workers, with young consumers unusually primed to spend their own money.

Data:

0.7%: Projected dip in May’s retail sales after a lackluster April.

60%: Uptick in new low-end retail stores post-pandemic.

33.2%: Share of working 16- to 19-year-olds (the highest since 2008).

$4.6T: Estimated retail sales in 2021.

1,750: Number of Dollar Tree locations set for remodeling.