Our previous FRED Blog post covered declining sales at electronics and appliances stores that may be due to consumers’ increased online shopping and diverted foot traffic. Today, we examine those expenditure patterns more closely by comparing recent US Census data on retail sales at general merchandise stores.

The FRED graph above shows the value of inflation-adjusted retail sales at three different types of general merchandise stores—where a broad selection of different types of goods can all be purchased under one roof. There are three types of brick-and-mortar stores in this industry:

• Department stores (the blue line) are both the anchor stores at traditional shopping malls and the large stores where no single merchandise line predominates.
• Warehouse clubs and superstores (the red line) are the big-box, standalone stores where paying members can purchase food in bulk, along with apparel, furniture, and appliances.
• All other general merchandise stores (the green line) include establishments such as “dollar” and variety stores.

The data are first available in 1992. Between then and 2024, the general merchandise store industry has experienced very large changes. Department stores were once the primary home for consumer spending in items such as apparel, jewelry, home furnishings, and toys; but they have shrunk to the retail size of “dollar” and variety stores.

Consumer spending based on foot traffic is now primarily headed to warehouses and superstores. As of July 2024, retail sales at those businesses amount to almost three times the combined sales at all other types of general merchandise stores.

How this graph was created: Search FRED for and select “Retail Sales: Department Stores.” From the “Edit Graph” panel, use the “Edit Line” tab to customize the data by searching for “Consumer Price Index for All Urban Consumers: All Items in U.S. City Average.” Don’t forget to click “Add.” Next, type the formula (a/b)*100 and click “Apply. Next, use the “Add Line” tab to search for and select “Retail Sales: Warehouse Clubs and Superstores.” Repeat that step to add a third data series to the graph: “Retail Sales: All Other General Merchandise Stores.” Lastly, repeat the steps described above to customize the data in Line 2 and Line 3 and adjust them for consumer price inflation.

Suggested by Diego Mendez-Carbajo.