Resilient Consumers Keep Spending
Rising COVID cases stemming from the virulent delta variant have driven governments and businesses to reimpose social distancing measures and delay return-to-office policies, putting a damper on some economic activity. But consumers continue to power through the end of the summer.
Clothing sales remained high in August, the prime month for back-to-school shopping. Children and teens outgrew their clothing over the pandemic, and many workers being called back to the office are updating their wardrobes — although athleisure is still experiencing strong gains in sales. Clothing retailers overall are seeing sales at an annualized 7.5% higher than in August 2019.
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