Home / Knowledge / News / Apparel/Garments / Holiday retail sales growth closer to NRF forecast of 3.9%
Holiday retail sales growth closer to NRF forecast of 3.9%
16
Jan '14
Severe winter weather did not dampen December retail sales as shoppers took advantage of heavy promotions and last-minute deals.

According to the National Retail Federation – the world’s largest retail trade association – December retail sales, which exclude automobiles, gas stations and restaurants, increased 0.4 percent seasonally adjusted month-to-month, and 4.6 percent unadjusted year-over-year.

Total holiday retail sales, which include November and December sales, increased 3.8 percent to $601.8 billion, which was in line with NRF’s projected forecast of 3.9 percent and $602.1 billion. In addition, non-store holiday sales, which is an indicator of online and e-commerce sales, grew 9.3 percent to $95.7 billion.

“Despite facing a truncated holiday season, severe weather, and shaky consumer confidence, retailers rose to the challenge and executed their strategies with proven success,” NRF President and CEO Matthew Shay said.

“Today’s holiday sales numbers are a testament to a resilient industry that knows what their customers want, when they want it and how they want to get it. Considering that retail sales are an important barometer when measuring the overall health of our national economy, this report provides a level of true optimism that the recovery is picking up steam, and once again, retail leads the way.”

December retail sales, released by the U.S. Census Bureau, which include categories such as automobiles, gasoline stations, and restaurants, increased 0.2 percent seasonally adjusted month-to-month, and 4.1 percent adjusted year-over-year.

“Retail sales have been volatile all year and the holiday shopping season was no exception,” NRF Chief Economist Jack Kleinhenz said. “Solid job growth in the months of October and November led to a more-confident consumer and healthy holiday shopping season for many retailers. While economic and policy uncertainties remain, the economy seems set for steady growth in the New Year.”

“Undoubtedly, some of the increase came at the expense of margin. Retailers are still stressed and a long-term promotional environment may actually hurt the bottom line,” said Kleinhenz.  “As consumer confidence grows, there will be less need for retailers to heavily promote and discount their offerings.”

Other findings from the December retail sales report include:

Building material and garden equipment and supplies dealers stores’ sales decreased 0.4 percent seasonally-adjusted month-to-month yet increased 4.2 percent unadjusted year-over-year.

Clothing and clothing accessories stores' sales increased 1.8 percent seasonally-adjusted month-to-month and 4.7 percent unadjusted year-over-year.

Electronics and appliance stores’ sales decreased 2.5 percent seasonally-adjusted month-to-month and 1.5 percent unadjusted year-over-year.

Furniture and home furnishing stores’ sales decreased 0.4 percent seasonally-adjusted month-to-month yet increased 5.0 percent unadjusted year-over-year.

General merchandise stores’ sales were flat seasonally-adjusted month-to-month and flat unadjusted year-over-year.

Health and personal care stores’ sales increased 0.6 seasonally-adjusted month-to-month and 5.9 percent unadjusted year-over-year.

Nonstore retailers’ sales increased 1.4 percent seasonally-adjusted month-to-month and 14 percent unadjusted year-over-year.

Sporting goods, hobby, book and music stores’ sales decreased 0.6 percent seasonally-adjusted month-to-month yet increased 5.8 percent unadjusted year-over-year.

National Retail Federation

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search