ColumnistsJan 09, 2024
On Data: The Top-Performing Jewelry Categories in 2023SurveysJan 22, 2024
Holiday Retail Sales Rose Nearly 4%, NRF Calculations Show
Retail sales also were up about 4 percent for the full year.
Retail sales, excluding sales at gas stations, restaurants, and car dealerships, were up 3.8 percent year-over-year during the 2023 holiday season and rose 3.6 percent for the full year, the NRF said last week.
Washington, D.C.—Core retail sales grew nearly 4 percent in the months of November and December to $964.4 billion, according to U.S. Census Bureau data compiled by the National Retail Federation.
The results were line with the NRF’s forecast for the holiday season, with consumers spending despite the fact that interest rates and the cost of certain goods and services remain high.
Online and other non-store sales, which are included in the sales total, rose 8 percent to $276.8 billion, also in line with the NRF’s holiday forecast.
All but two retail categories tracked by the NRF showed year-over-year sales growth during the 2023 holiday season.
Electronics/appliance stores and health/personal care stores led the way. Both recorded growth of 9 percent.
Furniture and home furnishing stores turned in the worst performance, perhaps due to the slowdown in the housing market, with sales dropping 6 percent year-over-year.
Sales declined 4 percent for building materials and garden supply stores.
Related stories will be right here …
The results were line with the NRF’s forecast for the holiday season, with consumers spending despite the fact that interest rates and the cost of certain goods and services remain high.
Online and other non-store sales, which are included in the sales total, rose 8 percent to $276.8 billion, also in line with the NRF’s holiday forecast.
All but two retail categories tracked by the NRF showed year-over-year sales growth during the 2023 holiday season.
Electronics/appliance stores and health/personal care stores led the way. Both recorded growth of 9 percent.
Furniture and home furnishing stores turned in the worst performance, perhaps due to the slowdown in the housing market, with sales dropping 6 percent year-over-year.
Sales declined 4 percent for building materials and garden supply stores.
For the full year, retail sales also were up about 4 percent to $5.13 trillion, at the low end of the NRF’s full-year forecast.
“Consumer spending was remarkably resilient throughout 2023 and finished the year with a solid pace for the holiday season,” NRF Chief Economist Jack Kleinhenz said.
“Although inflation has been the biggest concern for households, the price of goods eased notably and was helped by a healthy labor market, underscoring a successful holiday season for retailers.”
The 2023 holiday sales results top the previous record of $929.5 billion spent during the 2022 holiday season.
Though retail sales growth has slowed in comparison with the pandemic years, when consumers had extra money due to government stimulus and little else to spend their money on, it is consistent with the average growth rate of 3.6 percent recorded from 2010-2019, the NRF noted.
NRF’s calculation of retail sales is based on U.S. Census data but excludes sales at automobile dealers, gas stations, and restaurants.
It defines the holiday season as Nov. 1-Dec. 31. The holiday sales total is not adjusted for inflation.
More on Surveys
The Latest
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
