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
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
