Holidays sales hit record $886.7 billion, says National Retail Federation

CLEVELAND, Ohio — Shoppers found ways to spend money during the holiday season, despite all the factors that might have slowed gift buying.

According to the National Retail Federation, sales topped $886.7 billion, up from the $777.3 billion spent in 2020. The trade group says this is a record for holiday shopping in November and December.

“Despite supply chain problems, rising inflation, labor shortages and the omicron variant, retailers delivered a positive holiday experience to pandemic-fatigued consumers and their families,” NRF President and CEO Matthew Shay said. “Consumers were backed by strong wages and record savings and began their shopping earlier this year than ever before.”

The final numbers topped the trade group’s predictions from October of $843.4 billion and $859 billion. Chief Economist Jack Kleinhenz said sales were high the last two months of the year, despite people shopping early.

According to the news release, some people started holiday shopping in October, and sales actually declined in December compared to November.

Clothing stores saw the biggest increase, with sales up 33.1%, according to the NRF, which uses the U.S. Census Bureau data for its report. Sporting goods, general merchandise and furniture stores also saw large increases in sales.

“Despite supply chain challenges, retailers kept their shelves stocked and consumers were able to fill their carts both in-store and online,” Kleinhenz said in the news release.

“Holiday spending during 2021 reflected continued consumer demand that is driving the economy and should continue in 2022. Nonetheless, we should be prepared for challenges in the coming months due to the substantial uncertainty brought by the pandemic.”