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
Apparel/Garments | On 26th Sep 2017
The US Committee for the Implementation of Textile Agreements has...
Textiles | On 26th Sep 2017
Thrace-LINQ, a global supplier of fabrics for the textile industry,...
Fashion | On 26th Sep 2017
Ending the months-long wait, Google has unveiled its smart denim...
Shades of India
Women value something that is unique and has a flavour of India
‘Blending cultures is the true beauty of fashion, where one’s imagination...
Indian textile value chain
Adopt innovative techniques, go for automisation rather than being...
Coating at a fibre level is a practice not usually seen in the...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...
Golfwear and menswear brand Devereux is set for greener pastures. Robert...
Do you think the sustainability space has the needed tools and resources available for a business to lead change?Yes No Skip
Do you see sustainability as a route to business growth?Yes
Total Votes: 49
Do you think adopting a sustainable approach will be a profitable move for your business?Yes No Skip
Do you think the sustainability space has the needed tools and resources available for a business to lead change?Yes
Total Votes: 49
Do you want the world to know about your sustainability journey and your business’ environmental footprint?Yes No Skip
Do you think adopting a sustainable approach will be a profitable move for your business?Yes
Total Votes: 49
Thanks for your valuable feedback. Claim your free latest sustainability e-book.
Do you want the world to know about your sustainability journey and your business’ environmental footprint?Yes
Total Votes: 49