Online and Non-store Holiday Season Sales Grew By 9 percent

NRFAccording to National Retail Federation, Online and other Non-store holiday season sales grew by 9 percent to USD 105 billion. Holiday sales in 2015 increased 3 percent to USD 626.1 billion. NRF’s  earlier forecast of total growth, including online sales, was at 3.7 percent reaching USD 630.5 Billion dollars.

“Make no mistake about it, this was a tough holiday season for the industry. Weather, inventory challenges, advances in consumer technology and the deep discounts that started earlier in the season and that have carried into January presented stiff headwinds as retailers competed with one another and their own bottom line,” said NRF President and CEO Matthew Shay. “Despite these factors, the industry rallied, consumers responded and sales still grew at a healthy rate, which is a huge testament to the resilience, knowledge and expertise of our retail leadership.”

The US Commerce Department placed the growth estimate at a decline of 0.2 percent, for December retail sales seasonally adjusted month-to-month and increased 2.2 percent unadjusted year-over-year. Though there is more to the data as pointed out by the Chief Economist for NRF. While on the surface trends may appear softer than expected, according to NRF Chief Economist Jack Kleinhenz the rise in November retail sales is actually very much in line with the events shaping the 2015 holiday shopping season. Sales in November excluding autos, gas and restaurants increased 0.5 percent seasonally adjusted over the previous month and 3.0 percent unadjusted year-over-year.

“The growth in November really does point to a healthy consumer who at the end of the day will help retailers see solid growth, despite the economic and environmental challenges.” Jack Kleinhenz, NRF Chief Economist

 

 

 

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