E-Commerce Share of Retail Sales Continues to Decline
August 18, 2021 | Calvin Schnure | Nareit
Total retail sales fell 1.1% in July, a larger-than-expected decline that signals some important shifts in the underlying landscape for retail sales. Part of the decline was due to slower auto sales, which fell 4.3% last month. This decrease was due to global supply chain issues, as shortages of semiconductors have hurt auto production and as auto dealers struggle for inventory. Auto production rose 11.2% in July, however, according to the Federal Reserve, suggesting that auto inventories and sales will pick up again in the near future.
