Despite major promotional events in the sector, including Amazon’s Prime Big Deal Days, October retail sales slipped month over month while they gained year over year, according to the National Retail Federation.
NRF is changing how it conducts its monthly retail sales report, partnering with CNBC and Affinity Solutions instead of relying on the United States Census Bureau data releases.
The new monthly CNBC/NRF Retail Monitor conducted by Affinity Solutions reported October total retail sales, excluding automobiles and fuel revenues, slipped .08% from September and gained 2.6% year over year. That compared with increases of 0.23% month over month and 4.9% year over year in September.
The CNBC/NRF Retail Monitor uses real-time debit and credit card purchase data to provide more accurate and timely insights into retail sales activity across all U.S. sectors, categories and markets, NRF reported. The Retail Monitor leverages Affinity Solutions’ data from more than 140 million credit and debit cards, with some nine billion transactions totaling more than $500 billion in annual spending, to measure the monthly and annual change in U.S. retail sales.
NRF and its partners will make the Retail Monitor data available about a week prior to the U.S. Census Bureau’s Retail Sales announcement, NRF noted. CNBC will provide analysis of the monthly retail sales findings across CNBC’s multiple platforms.
“The CNBC/NRF Retail Monitor will provide comprehensive, granular and timely insights that measure monthly retail sales and gauge the state of the retail industry, the consumer and the broader economy,” NRF President and CEO Matthew Shay said. “The CNBC/NRF Retail Monitor will modernize how retail sales are tracked and measured, and Affinity Solutions’ vast dataset of how, what and where the consumer is spending will identify how key demographics and channels are performing for the industry generally and for specific retail sectors.”
In October, core retail sales — excluding automobile dealers, gasoline stations and restaurants — were essentially flat, coming in marginally down .03% seasonally adjusted from September and up 2.63% year over year, unadjusted, NRF maintained. In September, core retail sales were up 0.09% month over month and 4.39% year over year.
Among retail sectors:
- General merchandise stores were down 0.57% month over month seasonally adjusted and 1.57% year over year unadjusted.
- Furniture and home furnishings stores were down 1.29% month over month seasonally adjusted and 5.24% year over year unadjusted.
- Building and garden supply stores were down 0.5% month over month but up 0.89% year over year unadjusted.
- Electronics and appliance stores were down 1.38% month over month seasonally adjusted and 4.66% year over year unadjusted.
- Health and personal care stores were up 0.77% month over month seasonally adjusted and 5.98% year over year unadjusted.
- Food and beverage stores were up 0.23% month over month and 2.59% year over year unadjusted.
- Sporting goods, hobby, music and bookstores were up 1.45% month over month seasonally adjusted and 8.88% year over year unadjusted.
- Clothing and accessories stores were down 0.78% month over month but up 2.72% year over year unadjusted.
- Online and other non-store sales were up 1.18% month over month seasonally adjusted and 29.1% year over year unadjusted.
