Financials

September Retail Sales Rise Despite Supply Constraints

FinancialsOct 18, 2021

September Retail Sales Rise Despite Supply Constraints

U.S. retail sales rose 0.7 percent last month, even as retailers battle supply chain struggles.

U.S. retail sales were up 0.7 percent month-over-month in September to $625.4 billion, according to data from the U.S. Department of Commerce.
New York—U.S. retail sales surpassed expectations in September, rising in spite of supply chain constraints.
 
Sales were up 0.7 percent month-over-month in September to $625.4 billion, according to data from the U.S. Department of Commerce, while year-over-year sales were up nearly 14 percent.
 
The results exceeded analyst expectations of a decline of 0.2 percent.
 
August sales were stronger than previously thought, up 0.9 percent month-over-month, rather than the previous 0.7 percent, as per the revised figures.
 
“Today’s retail sales data confirms the sheer power of the consumer to spend, and we expect this to continue,” said National Retail Federation President and CEO Matthew Shay in a press release about the results.
 
“Despite persistent challenges related to the global pandemic, supply chain and labor shortages, retailers and their partners have shown resilience and ingenuity in getting the workforce, goods and systems in place to serve their customers and the communities where they operate.”
 
 Related stories will be right here … 
 
The Delta variant remained a concern for consumers, said the NRF, and pushed their spending toward goods rather than services.
 
Consumer spending slowed toward the end of summer, said NRF Chief Economist Jack Kleinhenz, but retail sales didn’t shift away from goods to services as much as expected.
 
“That was a plus for retail because consumers still have a hyper-ability to spend thanks to wage and job gains and the household savings built up during the pandemic.”
 
This year’s back-to-school shopping season carried over from August into September as some school districts delayed the start of classes until after Labor Day.
 
“Overall, the September report is very promising for a strong finish for the year. Nonetheless, rising inflation and slower supply chains remain a concern. Spending might have been higher if not for shortages of items consumers are eager to purchase.”
 
The NRF also calculates retail sales, excluding auto sales, gas stations, and restaurants.
 
Its calculations also show September retail sales were up 0.7 percent seasonally adjusted from August, and up 11 percent unadjusted year-over-year.
 
For the first nine months of the year, sales were up 14.5 percent over the same period in 2020, as per the NRF’s calculations.
 
The results are in line with its revised forecast that 2021 retail sales should grow between 10.5 and 13.5 percent over 2020 to between $4.44 trillion and $4.56 trillion.
 
September sales were up in all but two categories— electronics and appliance stores and health and personal care stores—on a monthly basis.
 
Year-over-year, sales were up across the board, led by increased sales at clothing, sporting goods, and general merchandise stores.
Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Events & AwardsDec 03, 2021
JA New York's Spring Show to Return in 2022

The New Designer Gallery will also make its comeback.

Events & AwardsDec 03, 2021
Gary Roskin Will Receive the 2022 Bonanno Award

Roskin heads the International Colored Gemstone Association, and is a graduate gemologist, author, journalist, and diamond grading expert.

Policies & IssuesDec 03, 2021
Alliance for Responsible Mining Names New Executive Director

Gina D’Amato joins with more than 15 years of experience in sustainable development.

Brought to you by
Train Your Staff Today with Interactive eLearning

Join the prestigious brands, industry organizations and sellers using IGI’s educational services.

CollectionsDec 03, 2021
Piece of the Week: Angely Martinez’s Island Bar Ring

The designer’s memories of beach trips and nature in the Dominican Republic inspired her new opal and pearl collection, “Aqualescence.”

Weekly QuizDec 02, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of Nov. 29-Dec. 3, 2021.
Take the Quiz
TrendsDec 02, 2021
A New Book on Lover’s Eyes Jewelry Is Out Now

“Lover’s Eyes: Eye Miniatures from the Skier Collection” features more than 130 examples of the much-sought-after antique style.

SurveysDec 02, 2021
2021 Will Be the ‘Year of Jewelry,’ Analyst Says

Edahn Golan forecasts a blockbuster holiday season will cap off a stellar year for U.S. jewelry sales.

Brought to you by
3 Tips For Entering the Estate Market

Generate foot traffic and expand your jewelry expertise by adding an estate assortment to your store in partnership with Windsor Jewelers, Inc.

TrendsDec 02, 2021
Amanda’s Style File: The December Blues

The hues of the month’s three birthstones bring forth the calming emotions so needed during the hectic holiday season.

×