U.S. Census Bureau data released this week showed that retail sales nationwide during the recent 2024 holiday season reached a record $994.1 billion — surpassing industry projections with 4% growth over the 2023 total.
Online holiday sales also topped the previous record, increasing 8.6% to $296.7 billion in 2024 vs. $273.3 billion in 2023. Additionally, total retail sales for the full calendar year of 2024 grew 3.6% from 2023 to a record $5.28 trillion.
“We’re excited to see record retail sales for the Christmas shopping season and a very successful 2024 overall,” said Kentucky Retail Federation (KRF) president Tod Griffin. “While we know that consumers undoubtedly remain budget conscious, we are seeing encouraging signs of retail spending recovering to a pre-pandemic pace as the pressures of inflation continue to ease.”
Overall holiday sales in November and December saw year-over-year gains in seven of nine retail categories, including:
Online and other non-store sales were up 8.6%.
Furniture and home furnishings stores were up 5.6%.
Electronics and appliance stores were up 3.7%.
Health and personal care stores were up 3%.
Clothing and clothing accessory stores were up 2.8%.
General merchandise stores were up 2.4%.
Grocery and beverage stores were up 2.1%.
Building materials and garden supply stores were unchanged.
Sporting goods stores were unchanged.
Utilizing U.S. Bureau of Labor Statistics data, the National Retail Federation (NRF) estimated that retailers nationwide hired approximately 438,000 seasonal workers to support operations during the holidays.
“Kentucky’s local community retailers are proud to be an integral part of the fabric of their communities,” added Griffin. “And they look forward to continuing to provide first-rate service, selection and value as we head into 2025.”
The Kentucky Retail Federation is a non-profit trade association representing more than 6,000 diverse members across the Commonwealth — from department and drug stores to hardware, apparel and building supply retailers.
For more information about the KRF, please visit kyretail.com.
Kentucky Retail Federation