California shoppers reverse gears, up spending 1.4% in early 2024 – Daily News

The “Looking Glass” ponders economic and real estate trends through two distinct lenses: the optimist’s “glass half-full” and the pessimist’s “glass half-empty.”

Buzz: Cash registers at California merchants were ringing more frequently in early 2024.

Source: My trust’s spreadsheet’s look at California retail sales, minus online shopping, as measured by the Census Bureau.

Debate: Sales averaged 1.4% annual growth in the six months ended in February. That’s a reversal from a shopping decline at a 0.5% annual rate in the previous half-year.

Glass half-full

So where were Californians actively shopping?

Some pandemic shopping hot spots remain popular. Health goods and personal care stores’ sales rose at a 6.7% annual rate through February.

“Miscellaneous” retailers – including pet stores and second-hand shops – were up at a 5.9% rate. And general merchandise stores – giant discounters to dollar shops – rose 4.3% as bargain-hunting remained a passion.

Other merchants shook off coronavirus challenges.

Electronics and appliance stores, weak after lockdowns ended, rebounded at a 4.6% annual rate. Car dealers, which finally had inventory to sell, saw sales up at a 6.3% rate. And another broad category – sports, hobbies, music and books – eked out a tiny 0.8% increase.

Glass half-empty

Noteworthy sales slumps were tied to the death of home improvement’s surge.

So sellers of furniture and furnishings saw sales dive 10.4%. Merchants peddling building and garden goods were off 0.5%.

Clothing dipped 1.5% as the limited back-to-the-office push keeps folks in informal wear.

And food and beverage stores lost 2.5% as consumers look in other places for grocery bargains.