Despite the overall monthly decline, six out of nine retail categories posted year-over-year gains, with online sales, health and personal care stores, and general merchandise stores leading the way.
“Tariffs are just one tool at the administration’s disposal to achieve a secure border,” says NRF's David French.
Uncertainty looms as policymakers in Washington debate key economic policies, according to NRF Chief Economist Jack Kleinhenz.
NRF has issued a statement about the Trump administration’s plan to impose reciprocal tariffs on all trading partners.
Beehler, who previously worked at NRF, will oversee the organization’s state and federal policy agenda.
The January numbers follow a robust 2024 holiday season, during which core retail sales grew 4% yearly.
Retailers have accelerated imports of key products, anticipating a possible East Coast/Gulf Coast port strike in January and new tariffs from President Trump.
President Trump said Monday that he would pause tariffs on Mexico and Canada for a month, but levies on China were still set to take effect on Tuesday.
Software firm commits to its largest R&D spend in company history to fund new capabilities, faster release cycles and unified data model.
“The new contract brings certainty and avoids disruptions, and we hope to see it ratified as soon as possible,” said NRF Vice President Jonathan Gold.
“We are pleased to see the ILA and USMX come to a final agreement on a new contract, as U.S. ports on the East and Gulf Coasts play a critical role in the retail supply chain."
"The outlook looks promising for 2025.”
"Over half of consumers expect to complete their shopping in the week leading up to the Christmas holiday.”
Total retail sales were up 0.15% seasonally adjusted month over month and up 2.35% unadjusted year over year in November, according to the CNBC/NRF Retail Monitor.
This marks a slight increase from the previous high of 182 million shoppers recorded in 2023, and a significant rise of 18.1 million shoppers compared to five years ago.
“Healthy spending resumed in October as consumers continued to benefit from this year’s job gains and higher wages,” NRF president and CEO Matthew Shay said.
