November online retail sales continued a trend of growth, even as Thanksgiving week dipped into December, according to both advance estimates from the U.S. Census Bureau and the National Retail Federation’s Retail Monitor and CNBC.
This year, the Cyber 5 — the five-day period from Thanksgiving through Cyber Monday — ended Dec. 2, pushing some of the year’s biggest retail sales from November into December. U.S. consumers spent $13.3 billion online on Cyber Monday alone. Because that was in December rather than November this year, it contributed to November online retail sales declining slightly (1.32%) compared to October.
Still, November online retail sales in the U.S. grew year over year, according to NRF data. Commerce Department data showed that total retail sales also increased year over year in November.
“November sales increased on top of a strong October and would have been even higher if Thanksgiving Sunday and Cyber Monday hadn’t fallen in December,” said Matthew Shay, NRF president and CEO Matthew Shay, in a statement. “Year-over-year gains were solid even as retail prices in many categories are lower this year.”
The Commerce Department estimates total U.S. retail and food services in November grew 0.7% year over year to reach $724.6 billion.
CNBC and NRF’s Retail Monitor exclude automobile and gasoline from their calculation of total retail sales. Additionally, they identify a calculation for “core” retail sales, which exclude restaurants in addition to automobile dealers and gas stations.
Factoring in those exclusions, they estimate November total retail sales increased 2.35% year over year and 0.15% compared to October 2024. That compares to 4.13% year-over-year growth in October, when sales grew 0.74% over September.
Meanwhile, core sales increased 1.43% year over year and decreased 0.19% compared to October. That compares with year-over-year growth (4.59%) in October, when sales increased 0.83% over September.
Online retail in November loses benefit of Cyber Monday sales
Census Bureau indicates nonstore retailers grew sales 9.8% year over year.
Although the calculations vary, NRF data shows November online retail sales grew faster than each of the other categories it tracks, both from a month-over-month and year-over-year standpoint — 1.32% and 21.48%, respectively.
NRF says the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
Sales fell month over month in most categories
- Online and other non-store sales grew 1.32% month over month
- Grocery and beverage stores, up 0.95%
- Clothing and accessories stores fell 0.18% month over month
- General merchandise stores, down 0.05%
- Health and personal care stores, down 0.16%
- Furniture and home furnishings stores, down 0.8%
- Building and garden supply stores, down 2.19%
- Electronics and appliance stores, down 2.19%
- Sporting goods, hobby, music and book stores, down 1.2%
Sales grew year over year in most categories
- Online and other non-store sales increased 21.48% year over year
- Grocery and beverage stores, up 5.31%
- Clothing and accessories stores, up 4.21%
- General merchandise stores, up 2.01%
- Health and personal care stores, up 1.64%
- Furniture and home furnishings stores decreased 1.15% year over year
- Building and garden supply stores, down 2.93%
- Electronics and appliance stores, down 7.28%
- Sporting goods, hobby, music and book stores, down 7.39%
Holiday sales ‘on track’ to meet forecast
NRF chief economist Jack Kleinhenz said in a statement that the holiday season’s “pace of spending is clearly on track” to reach the organization’s forecast.
In October, NRF projected total holiday-season sales (Nov. 1 through Dec. 31) would grow between 2.5% and 3.5% over 2023. That would equate to between $979.5 billion and $989 billion in total holiday spending in November and December 2024. That also compares with $955.6 billion in total holiday spending in the United States in 2023.
Part of its forecast was that online holiday sales in 2024 would grow at a rate of 8% to 9% year over year.
“November’s results show a strong start to the traditional holiday season,” Kleinhenz said. “These numbers combined with better-than-expected October sales are evidence that consumer spending continues to fuel the economy. Job and wage gains, modest inflation and a heathy balance sheet have led to solid holiday spending.”
Click here to read last month’s update on U.S. online sales.
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