Electronics Sales Fall 2% During Holiday Season, Overall Trends Up, Says NRF
Electronics and appliance store holiday sales were down 2 percent year-over-year, NRF said Thursday, counter to overall trends. Holiday retail sales volume came in near the high end of the National Retail Federation’s October forecast (see 1910240037), growing 4.1 percent…
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year over year to $730.2 billion, the trade group said Thursday. NRF predicted holiday retail spending between $727.9 billion and $730.7 billion. Online and other non-store sales, included, were up 14.6 percent vs. the 2018 holiday period at $167.8 billion, above forecast. Retail sales in November and December “validate continued optimism for increased investment and opportunity in the retail industry,” said NRF CEO Matthew Shay, a “positive indicator of what’s ahead.” The healthy holiday season contrasted with the decline in retail sales at the end of 2018, and despite the late Thanksgiving and tariff worries, “the consumer didn’t go away.” he said. Strong employment numbers, high wages and strong household balance sheets boosted consumer confidence, Shay said. December’s 0.5 percent year-over-year improvement compared with November’s 0.1 percent month-over-month decline. Two high-volume shopping days -- the Sunday following Thanksgiving and Cyber Monday -- fell in December.