Online retail sales grew 18.08% year over year in February, according to CNBC and the National Retail Federation’s Retail Monitor. That’s a smaller increase than in January when online sales increased 25.47% year over year. February online and non-store sales also increased 0.8% month over month, the NRF said.

Meanwhile, total retail sales increased 6.3% in February. That was significantly more growth than in January, when total retail sales grew 2.34% year over year, according to Retail Monitor. Total retail sales also increased 1.06% month over month. That figure excludes automobiles and gasoline but includes both in-store and online retail sales. Core retail sales, which also exclude restaurants, increased 0.95% month over month and 6.69% year over year.

“February retail sales indicate continued momentum from consumers,” NRF president and CEO Matthew Shay said. “While the future direction of interest rates and inflation remains uncertain, it’s clear that a strong job market and increases in real wages are continuing to support spending.”

Impact of Leap Day on retail sales

Retail Monitor also shared sales data adjusted to remove the impact of an extra day in February this year. With that adjustment, month-over-month sales increased 0.4%, compared to 1.06% unadjusted.

Total retail sales increased 2.7% year over year when adjusted for the extra day, and core retail sales increased 2.99%.

February online sales and other categories

Online sales are just one of the nine categories Retail Monitor and the NRF track monthly.

The other results, in unadjusted numbers, are:

• Sporting goods, hobby, music and bookstores (up 13.67% over February 2023; up 2.29% over January 2024)
• Health and personal care stores (up 11.18% over February 2023; up 0.96% over January 2024)
• Clothing and accessories stores (up 8.05% over February 2023; up 0.51% over January 2024)
• Grocery and beverage stores (up 5.29% over February 2023; up 0.99% over January 2024)
• General merchandise stores (up 3.34% over February 2023; up 0.67% over January 2024)
• Building and garden supply stores (up 2.84% over February 2023; up 0.01% over January 2024)
• Electronics and appliance stores (up 1.12% over February 2023; up 0.76% over January 2024)
• Furniture and home furnishing stores (down 1.56% over February 2023; up 0.45% over January 2024)

Eight out of nine categories increased year-over-year sales. Furniture and home furnishings stores were the only exception. Home Depot and Lowe’s, two of the largest retailers in the category, both cited moderating sales among do-it-yourself customers in recent quarters that impacted their bottom lines. 

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