Market Developments

Holiday sales growth of 4% beat forecasts

Jan 17, 2012

Washington--Retailers’ holiday sales this year increased 4 percent over 2010 to $471.5 billion, according to the National Retail Federation (NRF).

The NRF had previously forecasted holiday sales to increase 3.8 percent.

“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,” Matthew Shay, president and CEO of NRF, said. “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.”

December retail sales released by the United States Department of Commerce shows that total sales increased 0.1 percent seasonally adjusted over November, and 6.2 percent unadjusted year-over-year.

“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,” Jack Kleinhenz, chief economist of NRF, said. “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.”

According to the NRF, retailers operate more than 3.6 million establishments in the U.S. that support one in four jobs, or 42 million working Americans.

See Comments

Similar Articles

NRF forecasts $4.1B jewelry spend for Valentine's

Total spending on jewelry this Valentine’s Day is expected to reach $4.1 billion, up from $3.5 billion last year, according to the National Retail Federation’s 2012 Valentine’s Day Consumer Intentions and Actions survey. Read More »

More Articles Like This »

- Advertisement -

Retail Resources

Diamond Prices
Metal Prices

Industry Guides

Comprehensive information in specialized areas:

See Industry Guides ››
Reader Connect
Reader Connect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
Customer Connect
Customer Connect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.