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.”
Editors' Picks
Sponsored by
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
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
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 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
AuctionsSep 29, 2026
Dionne Warwick’s Jewelry Goes Up for AuctionOnline bidding is open now for Julien’s sale of items owned by the “Walk On By” singer, whose final album comes out this fall.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
