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, 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.
The Latest

Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.

The one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.

Three C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

The retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.


Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.

The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

The pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.

The New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”

The latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.

The new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.

Participants who attend any three Rings of Strength events will be awarded a special medal.

The investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.

Smith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.

The counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.

The MJSA Mentor & Apprenticeship Program received the Registered Apprenticeship Program designation by the U.S. Department of Labor.

Casio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.

Barabash, Verragio’s client relations representative, was a vital member of the team and is remembered as being warm and full of life.

Originally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.

Allison-Kaufman has received the honor for the fourth year in a row.

The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.

Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.

Its investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.

Nicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.

Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.

Longtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.