Total retail sales growth in the second quarter of this year were 3.8%, which was well below the five-year quarterly average of 7%, according to CBRE research. Experts note this could be a sign that falling consumer sentiment is beginning to affect retail sales. But retail sales did rebound in June to 1% after increasing just 0.2% in May.
Consumer sentiment has been at its lowest point since 2008 despite strong wage growth, CBRE reported. Wage growth remained strong in Q2 at 4.4%, down slightly from Q1, but higher than pre-pandemic levels.
Retail gasoline store sales surged most in Q2, up by 45% year-over-year. Other big gainers were miscellaneous stores like pet supply and thrift shops (up 19%), and food services (up 17%).

Coresight Research reports that retailers have opened 4,283 new stores through June 24, compared with 1,766 store closures, CBRE reported. Malls and lifestyle centers were the only retail center category with negative retail space absorption in Q2.





















