2016 holiday season retail sales during the period of November and December increased 4 per cent to US $ 658.3 billion over 2015. The number includes US $ 122.9 billion in non-store sales, which were up 12.6 per cent over the year before, according to National Retail Federation.
The Federation believes that the strengthening economy encouraged consumers to spend even more freely than expected. December month was up 0.2 per cent seasonally adjusted from November and 3.2 per cent unadjusted year-over-year. Clothing and accessories segment noted a surge of 2.5 per cent in the reporting period.
“These numbers show that the nation’s slow-but-steady economic recovery is picking up speed and that consumers feel good about the future. Retail mirrors the economy. And while there might have been some bumps in the road for individual companies, the retail industry overall had a solid holiday season and retailers will work to sustain this in the year ahead,” said Matthew Shay, President and CEO, NRF.
Also Read – Strong holiday season for retailers in 2016-17: NRF
The report underlined that in the new distributed commerce world, it does not matter whether a customer shops in a company’s store or on its website or mobile app. This holiday season marked active behaviour of consumers and a stronger economy. Economic indicators were up, retailers offered great deals, confidence improved and all of that empowered consumers to spend more.
