NRF stated vacation gross sales rose 8.3%, topping estimates

People shop for vacation items at the country store on Main Street in Stockbridge, Massachusetts on December 13, 2020.

Joseph Prezioso | AFP | Getty Images

Retail sales during the holidays rose 8.3% on Friday from 2019, according to the National Retail Federation, as consumers used the gift season as a way to cheer themselves up over the holiday season Covid pandemic.

“Faced with increasing transmission of the virusDue to government restrictions on retailers and heightened political and economic uncertainty, consumers chose gifts that lifted the spirits of their families and friends and conveyed a sense of normalcy in the challenging year, “said Matthew Shay, President and CEO of the National Retail Federation. in a statement.

The large retail group predicted so in November In 2020, Christmas sales would increase between 3.6% and 5.2% year-over-year, which amounts to $ 755.3 billion to $ 766.7 billion. Americans were said to be spending more as they had less travel and dining expenses and were hoping for the Covid vaccine to be distributed.

Christmas sales have increased by an average of 3.5% over the past five years, and they have increased 4% in 2019, the NRF said. The sales exclude car dealerships, gas stations and restaurants.

The pandemic has messed up typical holiday shopping patterns. Many retailers started selling in October and October kept shops closed on Thanksgiving Day. she put more offers online and expanded contactless options like roadside pickup to reduce the number of shoppers cluttered in stores.

Even so, there were some factors that the retailer could not get hold of, such as economic insecurity and unemployment during the recession and fewer gatherings with family and friends.

So far, retailers’ holiday results seem to reflect trends related to pandemics. Lululemonthat has seen strong sales in the sport as people work from home forecasts fourth quarter earnings at the upper end of his expectations because of a strong holiday season. target said comparable sales online and in stores jumped 17% in November and December As vacation shoppers, they flocked to convenient, contactless options like roadside pickup. Still Nordstrom and Urban Outfitters reported disappointing vacation just as many shoppers stayed away from shopping malls.

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