NRF Reports 5.3% Uptick In Holiday Retail Sales

By Russell Redman for winsightgrocerybusiness.com

U.S. holiday retail sales showed solid growth for 2022, the National Retail Federation (NRF) reported but fell short of the retail trade group’s projection.

Retail sales in the November-December holiday selling season rose 5.3% year over year to $936.3 billion, NRF said Thursday. In early November, NRF had forecast holiday sales growth of 6% to 8%, reaching $942.6 billion to $960.4 billion.

This year’s November-December sales performance paled in comparison to the 2021 period, when holiday sales surged 13.5% year over year to $889.3 billion—“shattering previous records,” according to NRF. The federation noted that holiday retail sales have averaged 4.9% annual growth over the past 10 years, and pandemic spending has driven “considerable gains” in recent years.

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