US September retail report: online sales increased by 15.21% year-on-year

According to the latest report from the National Retail Federation (NRF), U.S. retail sales in September fell slightly from the previous month, but year-on-year spending still increased, especially clothing and e-commerce sales. Excluding automobiles and gasoline, total retail sales in September fell 0.32% from the previous month, but increased 0.55% year-on-year.

The report showed that core retail sales (excluding automobiles, gasoline and restaurants) fell 0.28% month-on-month in September and increased 0.94% year-on-year, while the month-on-month increase in August was 0.17% and the year-on-year increase was 1.93%. These data show that despite the short-term slowdown in consumption, consumer spending is still higher than the same period last year.

Apparel and accessories stores achieved a month-over-month growth of 1.06% in September and a year-over-year growth of 10.31%. Meanwhile, online and other store sales increased 1.59% month-over-month in September after seasonal adjustment and 15.21% year-over-year without seasonal adjustment.

The report pointed out that after seven consecutive months of growth, consumption fell slightly in September, in line with historical trends. Against the backdrop of political factors, uncertain election results, port strikes and high inflation, shoppers have become more cautious about spending. However, the year-on-year growth data shows that consumers still prioritize home shopping needs.

Data showed that total sales and core retail sales in September fell month-on-month, marking the first decline since January 2024 and the second decline since the Retail Monitor began tracking sales in October 2022. Total sales in the first nine months of 2024 increased by 1.91% year-on-year, and core sales increased by 2.18% year-on-year.

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