Retail sales slumped in 5 metro-east cities in the last year. This city bucked the trend
Retail sales decreased in five southwestern Illinois cities and increased in one locality since last November, according to data from one software company.
Total general merchandise retail sales revenue was down 8% across the U.S. in November 2022 compared to November 2021, according to the NPD Group, which focuses on market research.
Some forecast growth in retail sales for the 2022 holiday season, but even many optimistic predictions expect less growth than was seen last year. Individuals expect to spend about 5% less this Christmas than last year, according to data from the National Retail Federation.
Inflation and interest rate hikes have likely influenced many Americans’ budgets this season, as necessities such as groceries and electricity cost more than 10% more than they did last year.
The overall inflation rate from October 2021 to October 2022, the most recent month for which data are available, is 7.7%. The price of groceries has increased by 12.4%, while restaurant meal costs are up 8.6%, the U.S. Bureau of Labor Statistics reports.
The cost of gasoline (all types) has shot up by 17.5%, and the price of electricity is 14.1% more expensive than last October. Along with food, gas and electricity prices, U.S. residents are also paying more for clothes, medical care and vehicles.
SafeGraph data show retail sales have dropped year-to-year in five of the six southwest Illinois cities for which data are included. SafeGraph uses data from a sample of credit and debit card transactions.
Collinsville was the only city that saw retail sales increase from November 2021 to November 2022, with a difference of less than $2,700, according to SafeGraph.
Retail sales in Belleville dropped by about $110,854 over the same period, and several other metro-east cities saw modest declines in sales.
Explore SafeGraph data on retail sales in Belleville, Alton, Collinsville, Edwardsville, Fairview Heights and O’Fallon using the interactive graphic below.
Note: This graph will automatically update as new data become available.
This story was originally published December 12, 2022 at 10:48 AM.
