After a year that saw holiday sales decrease by 3.4%, retailers bounced back in 2009. According to the National Retail Federation, retail industry sales (which exclude automobiles, gas stations, and restaurants) for December rose 2.3% unadjusted year-over-year and fell 0.5% seasonally adjusted from November.
As a result, preliminary 2009 holiday sales, which combine the full months of November and December, rose 1.1% to $446.8 billion, surpassing NRF's projected decline of 1.0%.
“With an eye on managing inventory and maintaining lower price points, retailers did a tremendous job of planning for the holiday season,” said NRF Chief Economist Rosalind Wells. “While the consumer appears to be spending again, double digit unemployment numbers will remain an impediment to maintaining this momentum.”
Apparel was a big driver for retailers as clothing and clothing accessories stores for December increased 7.0% year-over-year and dipped 0.6% from November. Sporting goods, hobby, book & music stores also performed well with December sales increasing 3.9% from last year and up 1.6% month-to-month. Health and personal care stores continue to be a bright spot in retail with year-over-year December sales increasing 4.8% and monthly gains of 0.8 percent.
The weak housing market continues to impact the sale of home furnishings with December sales of furniture and home furnishing stores decreasing 3.5% from December 2009 though increasing a slight 0.3% from the previous month.
