MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking  national retail and service sales, determined that retail sales for most  categories remained flat in July 2010, RAPAPORT reported. The  SpendingPulse Luxury Index, which encompassed high-end sales in  restaurant, food stores, department stores, and high-end general apparel  retailers increased 0.2 percent. This performance was a notable drop  from double-digit growth experienced between February through April  2010.

Michael McNamara, vice president of research and analysis for  SpendingPulse, observed, “Overall, retail sales continued to tread  water, following the pattern set with June’s sales when consumers  demonstrated a reluctance to make larger purchases, and instead, traded  down.  Particularly, we are noticing some weakness in industry sectors  that rely on higher priced ticket items such as furniture and  discretionary areas such as luxury and jewelry.  We are also seeing this  pattern echoed in the restaurant business, where we have seen consumers  shift from full-service restaurants and particularly fine dining, to  limited-service and quick-service outlets.”
On a positive note, e-commerce sales rose 10.9 percent on a  year-over-year basis, in contrast with June, when for the first time  since November 2009 it dipped to growth only in the single digits.

SpendingPulse also concluded that the oil spill in the Gulf of Mexico  had a severe impact on certain retail  figures and especially hotel  figures in resort beach towns.

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