According to CNBC/NRF Retail Monitor, the holiday shopping season began with a strong start in November as retail sales with total retail sales, excluding automobiles and gas, up 0.77 percent seasonally adjusted month over month and up 4.24 percent unadjusted year-over-year.

The CNBC/NRF Retail Monitor’s calculation of core retail sales, excluding restaurants in addition to autos and gas, showed increases of 0.73 percent month over month and 4.17 percent year-over-year in November, compared to a month-over-month decrease of 0.03 percent and a year-over-year increase of 2.63 percent in October.

“November Retail Monitor data shows that consumers are embracing the holiday season and promotions being offered by retailers,” NRF President and CEO Matthew Shay said. “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.”

The results come as the NRF forecasted that holiday retail sales from November 1 through December 31, excluding automobiles, gas and restaurants, would increase between 3 percent and 4 percent over 2022 to a record total of between $957.3 billion and $966.6 billion. This is the second month that the Retail Monitor, launched in November, has provided the retail industry with data on monthly retail sales. Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.

November sales were up in seven out of nine retail categories on a yearly basis, led by online sales, health and personal care stores, sporting goods, hobby, music, and book stores, and up in all but two categories on a monthly basis. 

Specifics from key categories include:

  • Online and other non-store sales were up 0.8 percent month over month, seasonally adjusted, and up 26.27 percent year-over-year unadjusted.
  • Health and personal care stores were up 1.6 percent month over month, seasonally adjusted, and up 9.15 percent year-over-year unadjusted.
  • Sporting goods, hobby, music, and bookstores were up 1 percent month over month, seasonally adjusted, and up 8.25 percent year-over-year unadjusted.
  • Clothing and accessories stores were up 0.87 percent month over month and up 5.81 percent year-over-year unadjusted.
  • Grocery and beverage stores were up 0.84 percent month over month and up 3.19 percent year-over-year unadjusted.
  • Electronics and appliance stores were up 0.1 percent month over month seasonally adjusted and up 0.1 percent year-over-year unadjusted.
  • General merchandise stores were up 1.03 percent month over month, seasonally adjusted, and up 0.61 percent year-over-year unadjusted.
  • Building and garden supply stores were down 1.16 percent month over month and down 0.06 percent year-over-year unadjusted.
  • Furniture and home furnishings stores were down 0.04 percent month over month, seasonally adjusted, and down 2.08 percent year-over-year unadjusted.