Furniture sales see slight dip in November sales versus 2013 figures
Holiday shoppers took advantage of deep discounting and early sales to lift retail spending in November, the National Retail Federation said, with every category posting an increase from a year ago except furniture and home furnishings stores.
(Editor: Leona) Holiday shoppers took advantage of deep discounting and early sales to lift retail spending in November, the National Retail Federation said, with every category posting an increase from a year ago except furniture and home furnishings stores.
Not including automobiles, gas stations or restaurants, retail sales increased 0.6% seasonally adjusted over October and 3.2% unadjusted over November 2013. Gains were consistent with NRF’s holiday sales forecast, which anticipates an increase of 4.1% over last year.
“As we’ve said all along, retailers are optimistic that they will see healthy holiday sales gains this year,” NRF President and CEO Matthew Shay said. “November sales results confirm that optimism, and we are steadfast in our belief that we are on track to reach the 4.1% growth in holiday sales that NRF forecasted in October.”
“Consumer trends show that the shopping experience continues to evolve for both retailers and consumers,” Shay said. “Shoppers this holiday season are seizing opportunities to take advantage of early promotions and showing signs they may wait until the end of the season when promotions are even greater.”
“Increasing wages combined with lower gas prices are providing retailers with an early holiday present this year,” NRF Chief Economist Jack Kleinhenz said. “Every economic indicator is pointing toward a strong holiday season. Healthy November sales should provide momentum for an even stronger December as customers continue to seek out deals all the way to Christmas.”
Furniture and home furnishing stores sales were up 0.5% month-to-month but were down 0.4% from November 2013, the NRF said.