Retail sales grew a slower-than-expected 0.3% in October

[Omaha Steve]

Source: AP

By JOSEPH PISANI

NEW YORK (AP) — Retail sales in the U.S. grew a sluggish 0.3% in October, even as retailers offered early holiday discounts online and in stores.

A surge in coronavirus infections nationwide and the expiration of a $600 weekly boost to unemployment checks over the summer has slowed spending by Americans and contributed to the slowest retail sales growth since this spring when the pandemic shuttered stores, theaters, restaurants and work places.

Economists had expected sales to rise 0.5%. October’s growth was much smaller than in September, when it rose 1.6%, according to the U.S. Commerce Department.

Best Buy, Target and Walmart offered holiday deals in mid-October to piggyback on Amazon, which held its annual Prime Day sales event in the fall after it was postponed this summer due to the pandemic.



FILE - In this Sept. 15, 2020 file photo, passers-by examine a storefront window, in Boston's fashionable Newbury Street shopping district. Retail sales in the U.S. grew a slower-than-expected 0.3% in October, even as retailers offered early holiday discounts online and in stores. (AP Photo/Steven Senne, File)


Read more: https://apnews.com/article/retail-sales-coronavirus-pandemic-0d90b222191a2380c5375d5c69a6068e

[True Blue American]

1. An expert was just on

He said the big box stores are doing fine. The little ones are going bankrupt.

[bucolic_frolic]

2. A few observations

Yes, as another post says, big boxers are doing fine. But they also have closeout merchandise. Salespeople, if you encounter one, are obviously pushed to sell, sell, sell. I say this because some of them aren't very good at it.

Online sales ... they keep saying all is ok, but eBay I can't find what I'm looking for. I suppose this means things have moved, but it also means some have given up. Even free sites, such as craigslist, have far fewer items than a year ago.

Used laptop prices went through the roof. What I passed on a year ago has been double since March. Parts are moving up too.

But gasoline was a good deal last week.