NRF: Holiday Sales Up in 2019

Holiday retail sales totaled $730.2 billion in 2019 – a 4.1 percent increase from the previous year, according to the National Retail Federation (Washington, D.C.).

This increase was on the top end of the projected growth of these sales, which were expected to be between 3.8 and 4.2 percent, reports CNBC.

A large portion of holiday sales came from online purchases, with online sales climbing by 14.6 percent. This exceeds the maximum expected growth by over half a percent.

The relatively large growth of holiday retail sales is a welcome change from the 2018 holiday season, when multiple factors, including the government shutdown, caused the growth to be unsubstantial.

“Job growth and higher wages mean there’s more money in families’ pockets, so we see both the willingness and ability to spend this holiday season,” said NRF Chief Economist Jack Kleinhenz in a press statement released by NRF.