U.S. online sales soar as furniture, home and garden categories fall Fer House

U.S. online sales soar as furniture, home and garden categories fall. Consumer spending in the U.S. rose modestly in December, the helped retailers take an optimistic tone end the holiday season after a strong start in November.

According to research firm Retail Monitor, the Core retail sales in December (excluding restaurants, autos and gasoline) rose a modest 0.19 percent from a year earlier and 2.4 percent from a year earlier. This compares to a 0.73% increase in November from a year earlier and a 4.17% year-over-year.

Total retail sales for December (includes restaurants, but excludes automobiles and gasoline) increased 0.44% from a year ago and 3.07% from a year ago. This compares to a 0.77 percent increase in November from a year earlier and a 4.24 percent increase year-over-year. year-over-year growth of 4.24 percent.

"The combination of December's data with November's results suggests that retailers had a very successful two-month holiday season," National Retail Federation (NRF) President and CEO Matthew Shay, said.

"Clearly, retailers did the right thing this holiday season by providing consumers with what they want, the flexible shopping channels and times of day, the and prices customers are willing to pay.

Previously. NRF forecasts that November 1 through December 31 Holiday retail sales (excluding autos, gasoline and restaurants) will increase by 3 percent to 4 percent over 2022, with reaching a record $957.3 billion to $966.6 billion. The forecast is based on data from the U.S. Census Bureau.

Over the past 12 months A total of five categories experienced year-over-year sales growth, with with online sales leading the way. Six of the nine retail categories six categories increased year-over-year, with online sales, health and personal care stores Online sales, health and personal care stores online, health and personal care stores, and apparel and accessory stores.

Key industry specifics include:

Online and other non-brick-and-mortar sales increased 2.59% sequentially and 31.17% year-over-year.

Health and personal care stores up 0.17 percent sequentially and up 5.58 percent year-over-year.

Apparel and accessories stores were down 0.44 percent sequentially but up 4.28 percent year-over-year.

Grocery and beverage stores grew 0.84 percent sequentially and 2.39 percent year-over-year.

Sporting Goods, Hobby, Music and Bookstores grew 0.62 percent sequentially and 2.25 percent year-over-year.

Department stores grew 0.86 percent sequentially and up 0.84 percent year-over-year.

Electronics and appliance stores were down 3.22 percent sequentially and 6.3 percent year-over-year.

Furniture and home furnishings stores declined 0.9 percent sequentially and 3.76% year-over-year.

Building and gardening stores declined 1.52 percent from the previous year and 10.17% year-over-year.

However, experts predict that in 2024 the consumer spending growth to slow.

Throughout 2023, the Consumer spending has remained remarkably resilient even in the face of prolonged inflation and high interest rates. But NRF Chief Economist Jack Kleinhenz (R) says that this is unlikely to continue.

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