Day: January 17, 2021

NRF: Holiday 2020 sales better than expected

NRF: Holiday 2020 sales better than expected

WASHINGTON—Holiday sales at furniture and home furnishings stores were up 2.2{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610}, part of an unexpectedly robust November-December holiday selling period, the National Retail Federation reported late last week.

Overall, sales grew an “unexpectedly high” 8.3{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} over the same period in 2019 to $789.4 billion, exceeding the NRF’s holiday forecast despite the economic challenges of the coronavirus pandemic. The numbers include online and other non-stores sales, which were up 23.9{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} at $209 billion.

NRF had forecast that sales during the 2020 holiday season — defined as Nov. 1 through Dec. 31 — would increase between 3.6{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} and 5.2{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} over 2019 to a total between $755.3 billion and $766.7 billion. The forecast called for online sales to increase between 20{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} and 30{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} to between $202.5 billion and $218.4 billion. The numbers exclude automobile dealers, gasoline stations and restaurants.

NRF Chief Economist Jack Kleinhenz said consumers shifted into high gear in December, giving the holiday season a strong finish that could be a good sign for the continuing recovery of the economy this year. The 8.3{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} holiday season increase was more than double the 3.5{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} average holiday increase over the previous five years, including 2019’s 4{6e11cad7ac0545e2324fbf6d445e3b83c9482a898fa074d95dae34b306dc1610} gain.

Retail sales during December were

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RCD Design Center Kitchen Design Chief In Thailand

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