The National Retail Federation (NRF) has crunched the numbers on holiday sales in 2017, and they recently released an analysis of the results. Here are some highlights:
Sales during November and December increased 5.5 percent over the same period in 2016 — to $691.9 billion — as growing wages, stronger employment, and higher confidence led consumers to spend more than expected. That $691.9 billion includes $138.4 billion in online and other non-store sales, which were up 11.5 percent over the previous year.
There were increases in every retail category except sporting goods during the holiday season, which NRF defines as November 1st through December 31st.
These results exceeded NRF’s forecast and marked the largest increase since the 5.2 percent year-over-year gain seen in 2010 after the end of the Great Recession.
