retail

April 21 (UPI) — Retail sales rose by 1.7% in March mostly due to high gas prices from the ongoing conflict with Iran, the Commerce Department announced Tuesday.

It was the fastest monthly change in three years, according to a release.

In February, sales rose 0.7%.

Retail sales are seasonally adjusted but not for inflation. In March inflation rose by 0.9%, which was three times the February rate, according to the latest Consumer Price Index.

The war between the United States, Israel and Iran has caused gas prices to spike. The Strait of Hormuz, a critical transportation route for oil, has been closed to most traffic throughout the fighting. It has dramatically affected the price of gas in the United States and abroad.

Gas station sales jumped in March by 15.5% from February. Without gas station sales, retail rose 0.6% in March, which was at 0.7% in February.

Some categories were stronger. Furniture and home furnishing sales were up 2.2% in March.

Electronics and building materials held up well, too.

Gary Schlossberg, global strategist at Wells Fargo Investment Institute, said in commentary to investors on Tuesday: “Pressure on household budgets is being cushioned, for now, by sizable increases in tax refunds tied to last year’s legislation.”

Consumers adjusted their spending in other areas. Apparel sales were flat, and restaurant sales rose only 0.1%.

Gas prices likely caused that, said Dan North, Allianz Trade senior economist for North America.

“Gasoline is a thing you love to hate, because you have to buy it; there’s really no substitute,” North told CNN in an interview.

Eventually, consumers will deplete savings and tax refunds, and for lower-income Americans, it could be a struggle, North said.

“If we can wind this up, so to speak, in the next few months, the damage to the consumer and economy might not be so bad,” North said. “If you start stretching it out for months and months and toward the end of the year, then consumers and the rest of the economy get in trouble.”

April 3 (Asia Today) — A once-quiet café district near Seoul Forest is rapidly transforming into a retail hotspot, drawing long lines of visitors as fashion platform Musinsa expands its presence in the area.

By late morning Thursday, more than 200 people were lined up along Atelier-gil in Seongdong District, even on a weekday. The crowd gathered for a pop-up event tied to Musinsa’s “Back to Seoul Forest” campaign, where musician Code Kunst drew attention by serving coffee in person.

“Seoul Forest is really popular these days,” one visitor in her 20s said. “I’ve been to Yeonmujang-gil many times, so now I’m coming here instead.”

The campaign invites visitors to explore 24 stores in the area, scanning QR codes to collect stamps. Participants who collect four stamps receive promotional items and can enter prize drawings, encouraging foot traffic throughout the neighborhood.

The initiative is part of Musinsa’s broader “Seoul Forest Project,” launched earlier this year to expand consumer activity beyond the already saturated Yeonmujang-gil in nearby Seongsu. The company aims to connect the two areas into a single retail corridor.

Local businesses say the change is already noticeable. A staff member at a nearby lifestyle store said customer traffic surged so quickly during the event that QR code stations had to be moved outside to manage demand, adding that the area attracts a particularly young customer base compared to other locations.

Until recently, the Seoul Forest area was dominated by cafes and restaurants, with relatively short visitor stays. The district has about 35 beverage shops and 91 dining establishments, and its closure rate last year exceeded the city average.

Musinsa saw this as an opportunity. While Yeonmujang-gil faces high rents and heavy foot traffic, Seoul Forest had lower visitor numbers – about 3,000 people daily, roughly one-quarter of nearby Seongsu’s café street – despite being within a 15- to 20-minute walk.

To reshape the district, Musinsa leased about 20 vacant storefronts last year and subleased them to emerging brands, lowering entry barriers for companies seeking offline expansion.

As a result, designer brands that were previously difficult to find in physical stores are beginning to cluster in the area. Several labels, including General Idea, Lookcast and Have a Whale, have opened locations within the past two months, filling previously empty spaces with new retail content.

Kim Young-min, a director at a women’s fashion brand operating in the area, said high rents in neighborhoods such as Seongsu and Hannam had delayed offline expansion plans. “Musinsa offered space here, which made it easier to open a store,” Kim said.

The layout of Atelier-gil has also contributed to the shift. Unlike the large industrial-style buildings in Seongsu, the area consists mainly of smaller structures, reducing initial investment costs and making it more accessible for emerging designers.

While some vacancies remain, Musinsa plans to attract about 20 brands to the area this year. Upcoming openings include specialty retail concepts focused on hats, footwear, children’s products and beauty.

The company said it aims to strengthen its identity within the broader Seongsu district while redefining Seoul Forest as a destination where visitors can explore, shop and experience a variety of content.

The effort is already reshaping the neighborhood, turning previously quiet streets into a growing hub of fashion and lifestyle activity.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260403010001066