Nonstore retailers are holding pandemic gains as department stores slowly sink into oblivion…
Mish calculation from advance retail sales reports.
Non-store retailers include kiosks, vending machines, direct selling, telemarketing, direct marketing and e-tailing. Amazon is the largest non-store retailer.
I calculate the percentage excluding items that cannot or normally do not happen except in person. That list includes gas stations, food services, grocery stores, and motor vehicles.
Nonstore Retail Sales as Percent of Advance Retail Sales Detail
34 percent of sales excluding those items are now made online. Amazon is the biggest beneficiary and department stores are the biggest loser.
Advance Retail Sales Major Categories
Department stores are dying a slow death. There really is no point to them.
Big Surge in Retail Sales Will Put More Fed Rate Hikes on the Table
On October 17 it was noted Big Surge in Retail Sales Will Put More Fed Rate Hikes on the Table
Retail sales unexpectedly rose 0.7% in September vs. 0.3% expected. The Commerce Department revised August from 0.6% to 0.8%.
See the above link for more details.
Meanwhile, housing is in the gutter, auto companies are on strike, inflation is soaring, mortgage rates are 8.0 percent, and there is excess capacity in the shipping business.