NRF: Holiday Sales Made Grudging Gains
Wednesday January 16th, 2013 - 11:26AM
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The National Retail Federation characterized the holiday season as healthy if not up to its forecast, noting that economic uncertainties sent a cautious consumer to stores. December retail sales excluding automobiles, gas stations and restaurants increased 0.8% seasonally adjusted from November, NRF noted, citing United States Department of Commerce statistics, and increased 2.1% unadjusted year-over-year.
Total holiday retail sales gained 3%, below NRF’s projected forecast of 4.1%, to $579.8 billion. What the organizations categorizes as non-store holiday sales, including Internet-based transactions, grew 11.1%. NRF affiliate Shop.org forecasted a 12% advance in non-store sales for the months of November and December.
“For over six months, we’ve been saying that the fiscal cliff and economic uncertainty could impact holiday sales,” NRF president and CEO Matthew Shay said. “As the number shows, these issues had a visible impact on consumer spending this holiday season. We can’t expect consumers to continue to carry the burden of growing our economy. Washington must put political differences aside and do what it takes to get our country growing again and Americans back to work.”
As tabulated by the Commerce Department, December figures for retail and food services sales, which include non-general merchandise categories such as automobiles, gasoline stations and restaurants, increased 0.5% seasonally adjusted month-to-month and 4.7% adjusted year-over-year.
“While non-store retail sales increased a hearty 11% this December, total December sales could not make up for shortfalls in certain categories like electronics,” NRF chief economist Jack Kleinhenz said. “Heading into 2013, consumers could continue to think twice about their discretionary purchases as they face decreases in their paychecks and other concerns with their household budgets.”
Other findings from the December retail sales report include:
Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail
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