Total retail sales in the US increased by 0.77% in November 2023, seasonally adjusted from the previous month, and by 4.24% unadjusted year-over-year (YoY), according to data from the CNBC/NRF Retail Monitor.

During the month core retail sales, which exclude restaurants, automobiles and gasoline, grew 0.73% month-over-month (MoM) from October and 4.17% YoY.

Sales for online and other non-store sectors saw a monthly growth of 0.8% seasonally adjusted from October and up 26.27% unadjusted YoY.

Clothing and accessories store sales rose by 0.87% in November, and sales in grocery and beverage stores also increased by 0.84% from the previous month.

Health and personal care stores were up 1.6% MoM seasonally adjusted, and up 9.15% YoY unadjusted.

Sales for general merchandise stores and electronics and appliance stores were up 1.03% and 0.1% respectively.

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By GlobalData

During November 2023, sales for furniture and home furnishings stores dropped by 0.04% MoM seasonally adjusted from October, and were down 2.08% unadjusted YoY.

Sales for building and garden supply stores also declined by 1.16%.

For the holiday season 2023, NRF expects retail sales excluding autos, gas and restaurants to be between $957.3bn and $966.6bn, up between 3% and 4% compared with the same period in 2022.

NRF president and CEO Matthew Shay stated: “November Retail Monitor data shows that consumers are embracing the holiday season and promotions being offered by retailers.

“Value-conscious shoppers are out looking for deals as they purchase gifts for family and friends, and this data indicates that they’re finding them. Since November makes up half the holiday season, these numbers are a positive indication of what we can expect for the full holiday season.”