Wednesday, January 16, 2013

NRF Reports Holiday Spending Up 3%

Solid consumer spending in the month of December helped retailers finish the year with a healthy holiday shopping season, however economic uncertainties sent a cautious consumer to the stores. According to the National Retail Federation, the world’s largest retail trade association, December retail sales (excluding automobiles, gas stations and restaurants) increased 0.8 percent seasonally adjusted from November and increased 2.1 percent unadjusted year-over-year.
Total holiday retail sales increased 3.0 percent, below NRF’s projected forecast of 4.1, to $579.8 billion. Additionally, non-store holiday sales grew 11.1 percent. Shop.org in October forecasted a 12.0 percent growth in online sales in the months of November and December.