While November’s retail sales dipped compared to a surge of early holiday shopping in October the retail sales landscape reveals solid year-over-year growth, according to the National Retail Federation.
“Consumers continued to spend on household priorities and holiday gifts for loved ones this November despite continued inflation and rising interest rates,” NRF President and CEO Matthew Shay said in a press release. “Holiday shoppers are demonstrating resilience, and retailers are providing great products and experiences at the right price levels to help stretch household budgets. Consumers have been shifting back to in-store shopping for a more traditional holiday shopping experience, and we expect record participation for this year’s Super Saturday shopping weekend.”
The NRF retail sales data showed November down 0.4% from October but up 5.6% unadjusted year over year.
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