From CNBC:

Holiday sales rose 3.8% year over year to $964.4 billion, according to the National Retail Federation. The results echo findings of the CNBC/NRF Retail Monitor, which showed that holiday shoppers closed out the year on a positive note, with consumer spending being remarkably resilient throughout 2023 and finishing the year with a solid pace for the holiday season.

Nearly every retail category saw year-over-year gains with electronics and appliance stores, as well as health and personal care stores, leading the way with sales gains of 9.3% and 9%, respectively. Online sales and other nonstore sales rose 8.2% year over year.

Despite the solid peak season, economists and retailers are weighing whether consumers’ resilience will continue in 2024, with many factors, such as a divisive presidential election cycle, cooling inflation, and supply chain disruptions in the Red Sea, potentially driving or dampening spending. Retailers will kick off the earnings season in February, but some, like Abercrombie & Fitch, Lululemon, and American Eagle Outfitters, have already hiked their outlooks based on better-than-expected holiday sales.



Read more: Sales rise, raising retail hopes for 2024