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The figures are in: holiday retail sales beat expectations to rise 4.1 percent - NRF |
01.13.2012
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After a season of peaks and valleys, retailers' 2011 holiday sales beat expectations, rising 4.1 percent to $471.5 billion - slightly surpassing NRF's holiday sales forecast of 3.8 percent growth.
According to trade group the National Retail Federation, December retail industry sales (excluding automobiles, gas stations, and restaurants) increased 4.1 percent unadjusted year-over-year, decreasing 0.6 percent seasonally adjusted from November.
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"The right mix of strong promotions, lean inventories and an emphasis on value put retailers in the perfect position to end the year on a high note," said NRF President and CEO Matthew Shay. "A better-than-expected holiday season is welcome news for an economic recovery that continues to be sluggish, and demonstrates retail's powerful role as an engine of growth."
"In a matchup between the final two months of 2011 November clearly wins, but in the end retailers' promotions struck the right chord for budget-focused holiday shoppers," said NRF Chief Economist Jack Kleinhenz. "Though we are seeing evidence that the economy still has a critical hold on consumers' purchase decisions, this strength in spending could continue into 2012."
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