Year-over-year retail sales in November grew mid-single digits as online and other non-store sales were up double-digits, according to figures from the National Retail Federation.
Sales in the year’s 11th month were up 6% as online and other non-store sales were up 10.5% when compared to sales in November 2016. The numbers exclude automobiles, gasoline stations and restaurants.
“This has been an impressive start to the holiday season, perhaps the best in the last few years,” said Jack Kleinhenz, NRF chief economist. “The combination of job and wage gains, modest inflation and a healthy balance sheet along with elevated consumer confidence has led to solid holiday spending by American households.”
There were broad-based monthly increases across most sectors with the exception of general merchandise stores, which remained unchanged. The NRF had previously forecasted holiday sales growth of between 3.6% and 4% over 2016.
NRF figures show strong year-over-year growth across several retail segments. This includes building materials and garden supplies stores up 11.2%, furniture and home furnishings stores up 8.6% and electronics and appliance stores up 7.3%.
