Holiday retail sales increased 4 percent in 2016

Holiday retail sales during November and December increased 4 percentage over 2015 to $ 658.3 billion, as a strengthening economy encouraged consumers to spend even more freely than expected, the National Retail Federation said today. The total includes $ 122.9 billion in non-store sales, which were up 12.6 percentage over the year ahead .
The numbers exceeded NRF ’ s forecast of $ 655.8 billion, which would have been an increase of 3.6 percentage. NRF had forecast that on-line sales would grow between 7 and 10 percentage to a much as $ 117 billion. The numbers exclude automobiles, gasoline stations and restaurants .
December was improving 0.2 percentage seasonally adjusted from November and 3.2 percentage unadapted year-over-year .
“ These numbers show that the nation ’ s slow-but-steady economic convalescence is picking up speed and that consumers feel good about the future, ” NRF President and CEO Matthew Shay said. “ retail mirrors the economy. And while there might have been some bumps in the road for individual companies, the retail industry overall had a solid vacation season and retailers will work to sustain this in the class ahead. ”

“ There has been a distribute of talk about on-line versus in-store retail in the past few months, but that comes from people who don ’ triiodothyronine realize that on-line and retail today are the same thing, ” Shay said. “ In the fresh distributed commerce worldly concern that allows consumers to buy any product, anytime, anywhere, it in truth doesn ’ thymine matter whether a customer shops in a caller ’ mho store or on its web site or mobile app. It ’ s all retail. today ’ s retailers sell to shoppers any manner they want to buy. ”

“ The economy was clearly stronger in the spill and consumers were more active during the vacation temper than they had been earlier in the year ”
Jack Kleinhenz
NRF Chief Economist

“ The economy was clearly stronger in the fall and consumers were more active during the vacation temper than they had been earlier in the year, ” NRF Chief Economist Jack Kleinhenz said. “ economic indicators were up, retailers offered great deals, assurance improved and all of that empowered consumers to spend more. ”
Kleinhenz noted that average hourly earnings were up in 2016 over 2015, job gains remained solid and unemployment, although up slenderly in December from November, remained low. home values have besides increased and the rising stock grocery store has increased the respect of consumers ’ investments .
While the e-commerce datum for retail sales from the Commerce Department is only available on a quarterly basis, NRF expects e-commerce sales during the vacation season to be on par with recent quarterly releases showing 16 percentage growth year-over-year.

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NRF ’ south numbers are based on data from the Commerce Department, which said today that overall December sales — including automobiles, natural gas stations and restaurants — were up 0.6 percentage seasonally adjusted from November and 4.4 percentage unadjusted year-over-year .
There were monthly increases in furniture and furnishing and clothing and accessories during November and December despite declines in early categories .
A few specifics from the report include :

  • Online and other non-store sales increased 12.6 percent unadjusted year-over-year.
  • Sales at clothing and accessories stores increased 2.5 percent unadjusted year-over-year.
  • Sales at general merchandise stores decreased 1.5 percent unadjusted year-over-year.
  • Electronics and appliances stores’ sales decreased 2.3 percent unadjusted year-over-year.
  • Furniture and home furnishings stores’ sales increased 4.8 percent unadjusted year-over-year.
  • Sales at building materials and supplies stores increased 4.5 percent unadjusted year-over-year.
  • Sporting goods stores’ sales decreased 1.7 percent unadjusted year-over-year.  
  • Sales at health and personal care stores increased 6.7 percent unadjusted year-over-year.
  • Sales at Department Stores decreased 7.0 percent unadjusted year-over-year.
  • Food and beverage stores sales increased 3.6 percent unadjusted year-over-year.
source : https://enrolldetroit.org
Category : Social

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