Source: Pexels

There is good news at retail as the holiday shopping season gets underway.

According to the National Retail Federation (NRF), U.S. retail sales are on the upswing with four consecutive months of growth. While their tracking methodology differs, both the NRF and the U.S. Census Bureau reported accelerated gains in September.

Following record drops in the spring as store closures occurred due to the spread of the COVID-19 pandemic, growth began again in June. The Census reports that September retail sales were up 1.9 % seasonally adjusted from August and up 5.4% over the same period last year. Similarly, the NRF data shows a 1.3% spike seasonally adjusted from August and 12% unadjusted increase over last year.

“Retail sales showed impressive gains in September,” says NRF President and CEO Matthew Shay. “Consumers continue to prove their resilience and strength through this pandemic. Retailers and consumers are adapting to the current environment, embracing shopping in different ways, and focusing on specific categories. We’re optimistic about the prospects for a strong holiday season, as people want something to look forward to and bring joy to their lives.”

Additionally, NRF Chief Economist Jack Kleinhenz says that “these numbers and other economic data show the nation’s economy remains on its recovery path.”

Earnings season for the toy industry kicks off on Oct. 22 when Mattel reports its Q3 financials followed by Hasbro (Oct. 26), and Spin Master (Nov. 11).

About the author

James Zahn

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.

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