Cyber Monday helps retail sales rise in December
“Growth rebounded strongly in December from a misleadingly weaker November as the result of the final two days of the busy Thanksgiving holiday weekend being included in December’s data,” NRF president and CEO Matthew Shay said. “Calendar issues aside, value-conscious customers showed enthusiasm for celebrating loved ones with the right gifts at the right price points for their budgets in December. Households are in good financial shape amid low unemployment, growing income and continued deceleration of inflation for goods. We remain confident in our 2024 holiday forecast and retail sales projection for the year.”
[READ MORE: NRF: 2024 ended on ‘high note’; outlook promising for 2025]
Specific sales results from key sectors in December include:
- Online and other non-store sales were up 4.49% month-over-month seasonally adjusted and up 33.05% year-over-year unadjusted.
- Clothing and accessories stores were up 4.07% month-over-month seasonally adjusted and up 14.47% year-over-year unadjusted.
- Electronics and appliance stores were up 3.25% month-over-month seasonally adjusted and up 10.23% year-over-year unadjusted.
- General merchandise stores were up 3.24% month-over-month seasonally adjusted and up 9.77% year-over-year unadjusted.
- Sporting goods, hobby, music and book stores were up 3.81% month-over-month seasonally adjusted and up 7.43% year-over-year unadjusted.
- Health and personal care stores were up 1.85% month-over-month seasonally adjusted and up 6.98% year-over-year unadjusted.
- Furniture and home furnishings stores were up 0.84% month-over-month seasonally adjusted and up 5.34% year-over-year unadjusted.
- Grocery and beverage stores were up 0.59% month-over-month seasonally adjusted and up 4.27% year-over-year unadjusted.
- Building and garden supply stores were down 0.09% month-over-month seasonally adjusted but up 0.85% year-over-year unadjusted.
Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.