SurveysDec 10, 2024
Jewelry Among Top Sellers on Cyber Monday, Says AdobeSurveysJan 22, 2025
Holiday Sales Hit Record High, Says NRF
Core retail sales during the 2024 holiday season surpassed the National Retail Federation’s forecast.
Core retail sales during the holiday season rose 4 percent year-over-year to a record $994.1 billion, coming in above the National Retail Federation’s expectations.
Washington, D.C.—Holiday retail sales hit record levels in 2024, exceeding the National Retail Federation’s (NRF) expectations.
Core retail sales during the holiday season rose 4 percent year-over-year to a record $994.1 billion, according to data released by the U.S. Census Bureau, compared with $955.6 billion in 2023.
NRF had expected 2024 winter holiday spending to grow between 2.5 and 3.5 percent year-over-year, reaching between $979.5 billion and $989 billion.
“Consumers came out to spend this holiday season and clearly underscored the solid growth in the US economy,” said NRF Chief Economist Jack Kleinhenz.
“The spending pace was back to pre-pandemic growth and indicates a good start for the year ahead.”
Though the shorter holiday season led to more online shopping, he said, there was a return to in-store shopping and a focus on buying gifts early.
“The 2024 figures were driven in part by lower inflation compared with 2023, particularly for goods. Even though consumers are still relatively healthy and there was a notable increase in spending, they remain budget conscious,” said Kleinhenz.
Related stories will be right here …
Core retail sales during the holiday season rose 4 percent year-over-year to a record $994.1 billion, according to data released by the U.S. Census Bureau, compared with $955.6 billion in 2023.
NRF had expected 2024 winter holiday spending to grow between 2.5 and 3.5 percent year-over-year, reaching between $979.5 billion and $989 billion.
“Consumers came out to spend this holiday season and clearly underscored the solid growth in the US economy,” said NRF Chief Economist Jack Kleinhenz.
“The spending pace was back to pre-pandemic growth and indicates a good start for the year ahead.”
Though the shorter holiday season led to more online shopping, he said, there was a return to in-store shopping and a focus on buying gifts early.
“The 2024 figures were driven in part by lower inflation compared with 2023, particularly for goods. Even though consumers are still relatively healthy and there was a notable increase in spending, they remain budget conscious,” said Kleinhenz.
NRF bases its calculations of retail sales on Census Bureau data but excludes automobile dealers, gasoline stations, and restaurants to focus on core retail.
Its holiday total, which is not adjusted for inflation, includes online and other non-store sales.
NRF defines the holiday season as Nov. 1-Dec. 31.
Online and other non-store sales were up 9 percent to $296.7 billion, in line with its forecast of 8 to 9 percent growth to between $295.1 billion and $297.9 billion.
For the full year, core retail sales grew 4 percent to a record $5.28 trillion, reaching the high end of NRF’s forecast for 2024 annual sales to grow between 2.5 and 3.5 percent to between $5.23 trillion and $5.28 trillion.
Core retail sales, unadjusted, were up 4 percent year-over-year in both November and December.
The late timing of Thanksgiving shifted sales on Thanksgiving Sunday and Cyber Monday from November into December, said NRF, which affected results for both months.
Holiday sales saw year-over-year gains in seven of nine retail categories, led by online sales, furniture stores, and electronics and appliances stores.
As for seasonal hiring, the NRF estimated retailers hired 438,000 seasonal workers during November and December, in line with the 400,000 to 500,000 NRF had expected, citing data from the Bureau of Labor Statistics.
More on Surveys
The Latest
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
