Today’s growth rate is almost double the weak 2.1% seen during the 2018 holiday season
According to the National Retail Federation, 2019 holiday retail sales increased by 4.1% over the same period in 2018 to $730.2 billion. In addition to that, online sales were up 14.6% over the year before at $167.8 billion.
Having spent the last week with top retail leaders from around the world at our annual convention, and spending time at the White House yesterday with government policymakers and economists, these numbers validate continued optimism for increased investment and opportunity in the retail industry. This is a consumer-driven economy, and by any measure, the consumer has put the economy in a solid position for continued growth. This is a strong finish to the holiday season, and we think it’s a positive indicator of what’s ahead
October’s NRF forecast revealed that 2019 holiday sales during November and December would boost between 3.8% and 4.2% for a total of between $727.9 billion and $730.7 billion. The forecast called for online sales to increase between 11 percent and 14 percent to between $162.6 billion and $166.9 billion.