Surveys

Holiday Retail Sales Rose Nearly 4%, NRF Calculations Show

SurveysJan 22, 2024

Holiday Retail Sales Rose Nearly 4%, NRF Calculations Show

Retail sales also were up about 4 percent for the full year.

Stock image of hand holding holiday shopping bags
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 … 

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.  

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

WFDB Moments campaign
SourcingJan 28, 2025
WFDB Joins Efforts to Promote Natural Diamonds With New Campaign

The “Moments” social media campaign emphasizes the emotional ties between natural diamonds and life’s special milestones.

Bliss Lau As We Are Collection Campaign
CollectionsJan 28, 2025
Bliss Lau Celebrates the Intricate Mosaic of Identity in New Collection

The versatile “As We Are” collection features 14 pieces with interlocking designs allowing for 27 different looks worn around the body.

Olympic gold medalist and De Beers ambassador Letsile Tebogo
SourcingJan 28, 2025
Botswana’s First Olympic Gold Medalist Is Now a De Beers Ambassador

Letsile Tebogo will help to promote natural diamonds and the good they have done for his country.

Resolutions - 2025.jpg
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers

The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.

Hargreaves Stockholm NouvelleBox
Events & AwardsJan 28, 2025
NouvelleBox Show Returns to New York City

The showcase, in its second year, will feature more than 20 international brands at its curated event from Feb. 2-4.

Weekly QuizJan 23, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Graphic for “Predictions for the Year Ahead” webinar
Recorded WebinarsJan 28, 2025
Watch: Fine Jewelry Market Predictions for 2025

“My Next Question” guests Sherry Smith and Edahn Golan share their 2025 forecasts, from sales and marketing to what retailers should stock.

AGTA Seminar Series
Events & AwardsJan 28, 2025
Here Is the 2025 AGTA GemFair Tucson Educational Lineup

The seminar series covers topics from market trends and colored stone terminology to working with museums and growing an Instagram profile.

ride_or_die_1872x1052.png
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday Campaign

A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’

A picture of the LeVian family including Larry LeVian
MajorsJan 27, 2025
Le Vian Corp. Chairman Larry LeVian, a Man of Faith and Family, Dies at 73

LeVian is remembered for his leadership in the jewelry industry and for being a selfless and compassionate person.

Stock image of gavel, books, and handcuffs
CrimeJan 27, 2025
New Jersey Jeweler Sentenced to 2 1/2 Years for Evading Customs

Monishkumar Kirankumar Doshi Shah pleaded guilty to evading customs on more than $13.5 million of jewelry imported into the U.S.

 Jemora Gemhouse
SourcingJan 27, 2025
Dev Shetty To Head New Auction House for Rare Colored Gems

Jemora Gemhouse’s inaugural auction, slated for March, will take place in Dubai and feature polished sapphires.

Rachel Quinn and Gemfields’ Crazy Love collection campaign
CollectionsJan 27, 2025
Rachel Quinn Embodies Feelings of Falling in Love in New Collection

Quinn partnered with Gemfields to create “Crazy Love,” which features Zambian emeralds and Mozambican rubies across 10 pieces.

Arch Crown 2025 Tag & Label catalog
MajorsJan 27, 2025
Arch Crown’s 2025 ‘Tag & Label’ Catalog Is Out Now

The catalog is 48 pages and features more than 100 styles.

Ashley Zhang Jewelry 2025 Lunar New Year Snake Necklace
CollectionsJan 24, 2025
Piece of the Week: Ashley Zhang Jewelry’s Lunar New Year Necklace

The one-of-a-kind necklace was designed in celebration of the Chinese New Year, as 2025 is the Year of the Snake.

Ethical Gem Fair Tucson Anza Gems
SourcingJan 24, 2025
Ethical Gem Fair Heads Back to Tucson

The gemstone show is slated to take place at the Scottish Rite Cathedral.

Ophelia Eve 15 mm yellow gold and diamond hoops
Policies & IssuesJan 24, 2025
These Designers and Retailers Are Raising Money for LA Wildfire Relief

From raffles to auctions to donations, the industry is working to aid charities in Los Angeles amid the raging wildfires.

Mugshots of Zacary Briggs, Aaron Hammond, Tre’von Anthony Neal, and Evan Puckett
CrimeJan 23, 2025
4 Men Arrested After Allegedly Plotting to Kidnap Jeweler

The suspects are accused of planning to kidnap a Miami jeweler and rob him of his cryptocurrency.

Loose diamonds from Namdia
CrimeJan 23, 2025
Security Guard Killed in Armed Robbery at Namibian Diamond Co.

Francis “Gosh” Eiseb, 58, was a senior protection officer for Namib Desert Diamonds, also known as Namdia, in Windhoek, Namibia.

Gemstone Trading Network by RapNet and AGTA
SourcingJan 23, 2025
RapNet, AGTA Partner to Launch Gemstone Trading Network

The online diamond and jewelry marketplace has expanded, introducing a new platform dedicated to colored gemstone trading.

Symposium 2025 Speakers
Events & AwardsJan 23, 2025
Plumb Club Announces Speaker Lineup for Symposium ‘25

The second annual learning forum for retailers is slated for March 13 at City Winery in Pier 57 in New York City.

Fancy Color Research Foundation
SourcingJan 23, 2025
Fancy Color Research Foundation Names New CEO

Roy Safit took over the role on Jan. 1.

National Jeweler columnist Sherry Smith
ColumnistsJan 22, 2025
On Data: How Did Independent Jewelers Fare in 2024?

Sherry Smith shares data on the year gone by, including the breakdown between natural and lab-grown diamond sales.

Los Angeles wildfires
Policies & IssuesJan 22, 2025
Jewelers Mutual Steps Up Aid for LA Jewelry Businesses

The company also is matching donations made to Jewelers of America and the Diamond Council of America’s Jewelers Relief Fund.

Jewelers of America 20 Under 40 graphic
Events & AwardsJan 22, 2025
JA Seeking Nominations for Its Next ‘20 Under 40’ Class

Now in its fourth year, the program is expanding to include a list of “20 Under 40” for jewelry suppliers.

Foundrae Reach for Life collection campaign
CollectionsJan 22, 2025
Foundrae’s New Collection Channels the Power of Now

The “Reach for Life” collection uses feather and arrow motifs to invite growth and inner curiosity.

National Jeweler columnist Peter Smith
ColumnistsJan 21, 2025
Peter Smith: Sales Training’s Dirty Little Secret

Peter Smith pulls back the curtain on the often misinterpreted, and sometimes maligned, world of sales training.

Lord Jewelry brown and white diamond ring
TrendsJan 21, 2025
Amanda’s Style File: Decadent Mocha Mousse

Pantone’s 2025 Color of the Year takes the form of jewelry through gemstones and enamel that look just as delicious as mocha mousse.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy