The mighty US just released their retail figures for April and it shows more bad news for Donald Trump and the country. Retail sales in April were down to a historic low revealing in raw numbers how badly the Coronavirus is affecting the country and why many business owners are desperate to reopen their doors.
The Census Bureau of the USA, responsible for reporting retail figures, advised that in the month of April, US retail sales dived by 16.4 per cent. This is the largest drop since records were kept in 1992.
The Coronavirus has forced customers and business owners to stay at home and as such discretionary spending has ground to a halt and the only stores continuing to do well is Supermarkets and other essential stores. The biggest losers are clothing and accessories stores with sales were down 89.3 per cent in the month. Some major stores such as Target and Walmart have benefited from the shut down with home essential products and groceries performing well.
These closures have also meant that millions of Americans have been laid off of work and this has further limited their ability to spend.
Other big winners are online only stores such as Amazon who’s trading has been boosted. Stores like City Beach have also done well. If you want to save at City Beach, use a City Beach promo code to get a great deal on your purchase.
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