November Retail Sales Signal Holiday Season Growth

Source: Pixabay

Despite the challenges of forecasting a holiday season in a pandemic, retail sales numbers continue to show a rebound according to both the National Retail Federation (NRF) and the U.S. Census Bureau.

New data released today reflects November as having the sixth consecutive monthly year-over-year gains. The U.S. Census Bureau’s monthly retail survey indicates that November sales were softer than October, but still up 4.1% over the same period last year. NRF calculations, which use a different methodology, show an 8.8% increase.

“Consumers held back on spending in November as virus rates spiked, states imposed retail restrictions and congressional stimulus discussions were gridlocked,” says NRF President and CEO Matthew Shay. “While consumers have been bolstered by increases in disposable income and savings, it’s clear that additional fiscal stimulus from Congress is needed and we are hopeful it will be passed soon as we enter the final stretch of the holiday season.

Shay says that the NRF still expects a strong holiday season with gains over last year.

Industry analysts suspect that some holiday spending was pulled forward into October as consumers started shopping early to avoid holiday crowds.

About the author

James Zahn

James Zahn, AKA The Rock Father, is Editor-in-Chief of The Toy Book, a Senior Editor at The Toy Insider and The Pop Insider, and Editor of The Toy Report, The Toy Book‘s weekly industry newsletter. As a pop culture and toy industry expert, Zahn has appeared as a panelist and guest at events including Comic-Con International: San Diego (SDCC) Wizard World Chicago, and the ASTRA Marketplace & Academy. Zahn has more than 30 years of experience in the entertainment, retail, and publishing industries, and is frequently called upon to offer expert commentary for publications such as Forbes, Marketwatch, the Wall Street Journal, the New York Times, USA Today, Reuters, the Washington Post, and more. James has appeared on History Channel’s Modern Marvels, was interviewed by Larry King and Anderson Cooper, and has been seen on Yahoo! Finance, CNN, CNBC, FOX Business, NBC, ABC, CBS, WGN, The CW, and more. Zahn joined the Adventure Media & Events family in 2016, initially serving as a member of the Parent Advisory Board after penning articles for the Netflix Stream Team, Fandango Family, PBS KIDS, Sprout Parents (now Universal Kids), PopSugar, and Chicago Parent. He eventually joined the company full time as a Senior Editor and moved up the ranks to Deputy Editor and Editor-in-Chief.