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Special Report

Retail Sales Research Brief

June 2022

Restaurants and Grocers Lead Subdued
Month in Core Retail Spending

Retail sector approaches a junction. Improvements in grocery and dining-related spending were brightspots in May, when core retail sales advanced marginally against a backdrop of high inflation. The recent gains recorded across the two retail segments occurred alongside declines in home-based purchasing categories, including furniture, electronics and online spending. This activity points to a broader shift in consumer behavior away from the consumption of home goods and toward necessities and some social experiences. This adjustment has the potential to benefit owners of net-leased restaurants and grocery-anchored shopping centers.

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