"Revenge Spending” has arrived: retail sales surge as the economy glows up

Went stimulus shopping... Retail sales surged in March, soaring ~10% from February — the largest jump since May of last year. As $1.4K stimulus checks hit bank accounts and vax shots hit arms, Americans hit stores and restaurants. The biggest pops in consumer spending were in pandemic-pummeled sectors:

• Risers: Restaurant sales were up 13%, while clothing store sales soared 18%. Sporting goods and hobby stores were up a whopping 23%.
• Fallers: Grocery sales barely budged from February, and actually fell 14% from March last year. Sales at online retailers jumped only 6%.

Slim fit, revenge fit... After a year of saving up and holding back, Americans are "revenge spending" on pre-pandemic pleasures. Think: non-stretchy clothes, non-canned cocktails, and non-Zoom experiences. A few examples...

• Bank of America: In March, debit and credit card spending jumped the most for plane tickets (up ~40%) and clothing (up ~20%).
• American Eagle's quarterly sales are on pace to top $1B, thanks to a surge in sales of jeans and dressier tops.
• Pepsi expects sales of oatmeal, box pancakes, and other packaged foods to slow as we eat out more (less Quaker, more IHOP).
• Delta's passenger revenue jumped 50% in March from February, as we traveled outside the Netflix catalog.