Feb. 12, 2025 — According to the National Retail Federation (NRF), retail sales in the U.S. fell in January compared to December but showed significant year-over-year growth, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions.
Total retail sales, excluding automobiles and gasoline, dropped 1.07% on a seasonally adjusted basis from December but increased 5.44% from January 2024. Core retail sales—which exclude restaurants, auto dealers, and gas stations—saw a 1.27% month-over-month decline but a 5.72% year-over-year increase. Additionally, NRF shares that core retail shares grew 4% year over year during the 2024 holiday season and 3.6% for the full year.
“Despite the monthly decline, the year-over-year increases reflect overall consumer strength as a strong job market and wage gains above the rate of inflation continue to support spending,” says NRF president and CEO Matthew Shay. “We’re seeing a…value-conscious consumer who is rotating spending across goods and services and essentials and nonessentials, boosting some sectors while causing challenges in others.”
January sales increased in seven of nine categories year over year, with the highest gains seen in online retail, health and personal care stores, and clothing and accessories stores. On a monthly basis, sales rose in three categories.
The following are highlights from key sectors seasonally adjusted month over month and unadjusted year over year:
- Online and other non-store sales were up 0.44% from last month and up 30.49% compared to last year.
- Health and personal care stores were up 0.77% from last month and up 10.39% compared to last year.
- Clothing and accessories stores were down 2.96% from last month and up 7.67% compared to last year.
- General merchandise stores were down 2.43% from last month and up 7.53% compared to last year.
- Grocery and beverage stores were down 0.23% from last month and up 5.65% compared to last year.
- Sporting goods, hobby, music, and bookstores were down 1.89% from last month and up 2.82% compared to last year.
- Electronics and appliance stores were down 1.46% from last month and up 1.57% compared to last year.
- Furniture and home furnishings stores were down 2.03% from last month and down 0.27% compared to last year.
- Building and garden supply stores were up 0.27% from last month and down 0.99% compared to last year.