Where Do Consumers Spend the Most Money? (Answer Will Likely Surprise You)
A reader asked me how I calculated that. Let’s take a look.
My number came from the latest Census Department Advance Retail Sales Report.
Here are some charts I created from 7-month totals (January-July) 2017.
Retail Sales Category Percentages
- Motor vehicles and parts account for 21.18% of retail sales. Gasoline stations account for 7.94%. Together that adds up to 29.12%.
- Food and beverage stores (grocery and liquor stores) account for 12.62 percent of retail sales. Food services and drinking places (restaurants and bars) account for 12.14. The food and drink total is 24.76%.
- Nonstore retailers (think Amazon) account 10.39% of retail sales.
Mike “Mish” Shedlock