• by Ray Schultz , Columnist, August 16, 2024

The new school year is just about here, and email marketers have little time left for getting out last-minute offers.

But they should try, because sales were solid in July, according to Masterard’s SpendingPulse.  

Total U.S. retail sales -- not counting the auto market -- hit 8.2+ online in July and 2.9% in-store, YoY.

However, some consumers apparently held back earlier in the month as they waited for promotional offers to hit in mid-July. 

Apparel sales were particularly strong as parents purchased new outfits for fall, with sales up 5.4% YoY.

But that took place in the second half of the month, mirroring overall retail growth. Otherwise, apparel sales were flat YoY.  

Families have also been in the mood for dining out, as restaurant sales rose by 2.9% YOY.

As expected, grocery sales grew by 2.4% during the same period.  

The findings are at least somewhat encouraging, given that the time for holiday marketing is also now here.

Brands are already gearing up for their early autumn and pre-Black Friday email campaigns. 

However, as with back-to-school, it is likely that many shoppers will wait for discounts.  A separate study by Experian recently showed that monthly spending dipped at the end of Q1 following a strong follow-up to the 2023 holiday cycle. Consumers are increasingly seeking discount items and private labels, while choosing buy now, pay later options.  

Mastercard’s SpendingPulse measures in-store and online retail sales across all forms of payment.