Retail sales grew in April as many consumers moved up buying to avoid higher prices expected to come with tariffs.
WASHINGTON, May 8, 2025 โ Retail sales grew in April as many consumers moved up buying to avoid higher prices expected to come with tariffs, according to theย CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation.
โSpending rose again in April, driven largely by consumers continuing to pull purchases forward to stay ahead of tariffs that will inevitably lead to higher prices,โ NRF President and CEO Matthew Shay said. โDespite declines in confidence caused by the economic uncertainty that has come with tariffs, consumer fundamentals remain intact, supported by low unemployment, slower-but-steady income growth and solid household finances. Consumers maintain their ability to spend and have strong reasons to spend now before tariffs can drive up prices or cause shortages on store shelves.โ
Total retail sales, excluding automobiles and gasoline, were up 0.72% seasonally adjusted month over month and up 6.76% unadjusted year over year in April, according to the Retail Monitor. That compared with increases of 0.6% month over month and 4.75% year over year in March.
The Retail Monitor calculation of core retail sales (excluding restaurants in addition to automobile dealers and gasoline stations) was up 0.9% month over month in April and up 7.11% year over year. That compared with increases of 0.4% month over month and an increase of 5.07% year over year in March.
Total sales were up 5.08% year over year for the first four months of the year and core sales were up 5.5%.
In addition to strong tariff-driven spending, year-over-year comparisons were likely boosted because Easter fell in April this year after falling in March last year.
Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
April sales were up in eight out of nine categories on a yearly basis, led by digital products, electronics and appliance stores, and grocery and beverage stores. Sales were also up in eight out nine categories on a monthly basis. Specifics from key sectors include:ย
- Digital products were up 0.62% month over month seasonally adjusted and up 27.67% year over year unadjusted.ย
- Electronics and appliance stores were up 2.8% month over month seasonally adjusted and up 10.5% year over year unadjusted.ย
- Grocery and beverage stores were up 0.59% month over month seasonally adjusted and up 9.51% year over year unadjusted.ย
- Sporting goods, hobby, music and book stores were up 0.81% month over month seasonally adjusted and up 9.19% year over year unadjusted.ย
- Health and personal care stores were up 1.43% month over month seasonally adjusted and up 8.51% year over year unadjusted.ย
- General merchandise stores were down 0.02% month over month seasonally adjusted but up 6.67% year over year unadjusted.ย
- Clothing and accessories stores were up 1.14% month over month seasonally adjusted and up 5.14% year over year unadjusted.ย
- Furniture and home furnishings stores were up 0.86% month over month seasonally adjusted and up 0.09% year over year unadjusted.ย
- Building and garden supply stores were up 2.77% month over month seasonally adjusted but down 2.1% year over year unadjusted.ย
To learn more, visit nrf.com/nrf/cnbc-retail-monitor.
As the leading authority and voice for the retail industry, NRF provides data on retail sales each month and also forecasts annual retail sales and spending for key periods such as the holiday season each year.
About NRF
The National Retail Federation passionately advocates for the people, brands, policies and ideas that help retail succeed. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nationโs largest private-sector employer, contributing $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs โ 55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economiesย nrf.comย
About CNBC
CNBC is the recognized world leader in business news, providing real-time financial market coverage and business content consumed by more than half a billion people per month across all platforms. The networkโs 15 live hours a day of news programming in North America (weekdays from 5:00 a.m. – 8:00 p.m. ET) is produced at CNBCโs global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of reality programming, CNBCโs highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also offers content through its vast portfolio of digital products such as: CNBC.com, which provides financial market news and information to CNBCโs investor audience; CNBC Make It, a digital destination focused on making you smarter about how you earn, save and spend your money; CNBC PRO, a premium service that provides in-depth access to Wall Street; a suite of CNBC mobile apps for iOS and Android devices; Amazon Alexa, Google Assistant and Apple Siri voice interfaces; and streaming services including Apple TV, Roku, Amazon Fire TV, Android TV and Samsung Smart TVs. To learn more, visitย cnbc.com/digital-products. Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site atย nbcumv.com/programming/cnbc. For more information about NBCUniversal, please visitย NBCUniversal.com.
About Affinity Solutions
Affinity Solutions (Affinity) is the leading consumer purchase insights company. We provide a complete view of U.S. and U.K. consumer spending, across and between brands, via exclusive access to fully permissioned data from over 140 million debit and credit cards. This data is transformed into privacy-compliant, actionable intelligence for marketers, consultancies, and financial services companies to drive strategic growth and lasting customer relationships.ย Visit us atย www.affinitysolutions.comย to discover how weโre shaping the future of consumer purchase insights.
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MEDIA CONTACTS
NRF: J. Craig Shearman | press@nrf.com
CNBC: Melissa Castro | melissa.castro@nbcuni.com
Affinity Solutions: Kathleen Siddell | ksiddell@affinitysolutions.com
