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WASHINGTON – U.S. retail sales surged in the 2024 holiday season, growing 4% over the previous year to a record-breaking $994.1 billion, according to data released by the U.S. Census Bureau. The performance exceeded the National Retail Federation’s expectations, indicating a revival of pre-pandemic spending habits.
“Consumers came out to spend this holiday season and underscored the solid growth in the U.S. economy,” said NRF Chief Economist Jack Kleinhenz. “Lower inflation helped fuel this robust growth, even as shoppers remained mindful of their budgets.”
An 8.6% increase in online shopping was a major driver of growth, alongside notable gains in furniture and electronics sales. Overall, retail sales for the full year also reached a new high, reflecting a strong economy and consumer confidence.
December sales saw a boost due to a later Thanksgiving, which shifted some holiday shopping from November into December. Both months experienced steady growth, driven by a combination of in-person shopping and continued expansion of online sales.
Gains were seen across most retail categories during the holiday period. Online sales led the way, followed by increases in furniture, electronics, and health-related products. Clothing, general merchandise, and grocery stores also reported solid growth. Building materials and sporting goods sales held steady compared to the previous year.
Retailers hired approximately 438,000 seasonal workers during November and December, aligning with NRF’s projections.
As the leading voice for the retail industry, NRF continues to monitor economic trends and provide insights into consumer behavior, reinforcing the sector’s critical role in the U.S. economy.
