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Retail Sales Research Report | August 2021

August 30, 2021 by Marcus & Millichap Research Services

Annual Retail Sales Remain Strong; Property Fundamentals Resilient

  • Consumers tapped brakes on spending last month. Core retail sales dipped 0.7 percent on a monthly basis in July.
  • Restaurants a bright spot for sales. Diners showed little hesitation in July, pushing spending at eating and drinking places up 1.7 percent for the month, and 38.4 percent annually.
  • Inflation weighs on several sectors. Rising energy prices continued to fuel an increase in sales at gasoline stations last month, where spending increased 2.4 percent, the second largest advance.

New Factors Emerge

  • Vaccine passports gain momentum. Two of the nation’s largest cities, New York and San Francisco, have implemented vaccine mandates that will limit access to most retailers for those who are not vaccinated.
  • Health crisis emergency measures ending. Without an extension, the federal unemployment benefits expire nationwide on Sept. 6, which will remove income from millions of people out of work.

Sources: Marcus & Millichap Research Services; Bureau of Labor Statistics; Conference Board; CoStar Group, Inc.; U.S. Census Bureau

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Filed Under: Research Brief, Retail Tagged With: CRE, economic research, economics, economy, investing, marcus and millichap, net leased, nnn, nnn retail, nnn retail strips, Retail, retail investing, retail investments, retail sales, retail strip centers, walmart anchored deals, walmart deals, walmart nnn, walmart strip centers

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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