NRF Says Holiday Retail Sales Fell 2.8%

It’s official: Holiday 2008 was a disaster for U.S. retailers. The National Retail Federation said on Wednesday holiday retail sales fell 2.8% to $447.5 billion. This is the first decline posted since the NRF began tracking such figures in 1995.

The trade organization in September said it expected holiday sales (retail industry sales for the November-December period) to increase 2.2% this year to $470.4 billion. That would have been the weakest sales growth in six years.

But the economy worsened considerably since September, thanks to more layoffs and investment losses, and consumers put the brakes on spending. And last-minute holiday shopping was hampered by pre-Christmas winter storms.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.