Thursday, February 18, 2021 12:13 PM EDT
![shopping-1](https://blog.runnymede.com/hs-fs/hubfs/shopping-1.jpg?width=1024&name=shopping-1.jpg)
For much of 2020, we were locked in our homes and have been waiting for life to return to normal. Thanks to government transfer payments, even those that lost their jobs saved money. According to the New York Times, in 2020, personal income increased by over $1 trillion, and spending decreased by over $530 million. This means that American consumers are sitting on a $1.5 trillion war chest that is ready to be unleashed in the years ahead. January retail sales is just a hint of what's to come in 2021.
Shop til you drop
(Click on image to enlarge)
![fredgraph (6)](https://blog.runnymede.com/hs-fs/hubfs/fredgraph%20(6).png?width=1168&name=fredgraph%20(6).png)
In January, retail sales jumped +10.8% year over year. That's the biggest increase since 1999. This is a stunning number because we aren't even comping the lockdown months yet. Just wait until we hit March and April where we will be comping -2.6% and -15.3% respectively. The April retail sales will be above 35% growth!
With COVID cases dropping like a rock and vaccinations increasing, Americans will soon be traveling and spending in force. The tidal wave of spending has just begun.
Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no ...
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Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Runnymede Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Runnymede Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Runnymede Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Runnymede Capital Management, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.
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