U.S. online retail sales grew 4.5% in December from the previous month, driven by the Thanksgiving shopping weekend

It is learned that on January 14, according to foreign media reports, according to the monthly retail monitoring report released by the National Retail Federation (NRF), US retail sales grew strongly in December 2024, with seasonally adjusted retail sales increasing by 1.74% month-on-month and unadjusted year-on-year by 7.24%.

The report pointed out that this performance was boosted from November, when total retail sales increased by only 0.15% month-on-month and 2.35% year-on-year. An important factor in the growth of retail sales in December was the postponement of the Thanksgiving shopping weekend. Since Thanksgiving in 2024 was later than in previous years, the post-Thanksgiving shopping peak (including "Cyber ​​Monday") occurred in December instead of the usual November, which brought a significant boost to retail sales. In addition, as household financial conditions improved and consumers became more sensitive to prices, retail performance in December was more positive.

In terms of specific industry performance, the report shows that in December, online sales and other non-store sales in the United States increased by 4.49% month-on-month and 33.05% year-on-year, which reflects consumers' continued preference for online shopping. Clothing and accessories stores increased by 4.07% month-on-month and 14.47% year-on-year, while sales of electronics and home appliance stores increased by 3.25% month-on-month and 10.23% year-on-year. Department stores and sporting goods, hobby, music and book stores also performed well, increasing by 3.24% and 3.81% month-on-month, respectively.

In the household daily necessities sector, sales at health and personal care stores increased by 1.85% month-on-month and 6.98% year-on-year, while sales at furniture and home furnishings stores increased by 0.84% ​​month-on-month and 5.34% year-on-year. However, sales at building and gardening supply stores fell slightly by 0.09% in December, but still recorded a year-on-year increase of 0.85%.

NRF said that low unemployment, income growth and slowing commodity inflation are the main factors driving consumption growth. With the stabilization of household finances, consumers are more enthusiastic about buying gifts that fit their budgets, especially during holiday shopping. In addition, retail data reflects consumers' focus on value, especially in the current economic context, when many families are able to spend under relatively loose financial conditions.

Overall, despite economic uncertainty, strong consumer spending in December 2024 suggests that the U.S. retail market remains healthy. NRF further predicts that the market is expected to remain optimistic as the 2024 holiday season approaches and retail sales grow throughout the year.

Author ✎ Rayna/

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