November retail sales up 4.53% from year ago

The National Retail Federation’s (NRF) monthly retail sales report indicates that total sales, excluding automobile dealers and gas stations, rose 4.53% from a year ago and increased slightly from the prior month.

Core sales that also exclude restaurant receipts increased 4.66% from a year ago, slightly lower than the 4.89% annual gain reported in October.

“Retail sales showed healthy year-over-year gains in November while month-over-month data was largely flat,” said NRF President and CEO Matthew Shay. “Shoppers looking for online deals may have held back a bit until Cyber Monday, which landed in December due to a late Thanksgiving, likely shifting some spending. Consumers are focusing on value and spending carefully during the holiday period, and retailers are offering products at competitive prices to fit every budget. We remain confident in our 2025 holiday forecast as well as our retail sales projections for the full year.”

The trade group said total sales were up 5.06% year over year for the first 11 months of the year, and core sales were up 5.22%.

The NRF forecast for the holiday season, which includes a sales record in November and December, is just over $1 trillion, with gains between 3.7% and 4.2% from a year ago. This figure is not adjusted for inflation, which remains elevated in categories like food, footwear, and some imported goods. For the full year, the trade group projects retail sales will reach $5.48 trillion, up more than 3% from the prior year.

In November, digital sales increased 14.81% from a year ago, and that does not include Cyber Monday events, which will be included in December data. Consumers also spent 8.96% more on sporting goods, music, books and hobby items in November, compared to the prior year.

Clothing and accessories are big holiday gift categories, and sales in November increased 8.16% from a year ago. Inflation ran about 4.4% in November for clothing and apparel. Grocery and beverage sales around the holidays in November increased 3.89% from a year ago.

Analysts said many retailers held holiday food prices down, which negated any inflationary lift the category would have had otherwise gotten. Food inflation increased 4.2% in November from a year ago, according to federal reports.

General merchandise sales increased 3.1% year over year, and health and personal care sales were up 1.31% from a year ago. Electronics and appliance sales, also popular holiday gifting categories, rose 1.01% from a year ago. Electronic sales in November were 2.94% lower than they were in October amid the Prime Day events at Amazon and similar promotions at Walmart, Best Buy, and Target.

Furniture and home furnishings have been a challenged category this year, but sales rose 0.53% year over year in November. Household furnishing inflation was down 0.6% in November. Categories for building and gardening supplies had sales 9.38% lower in November, according to the report.