The CNBC/NRF Retail Monitor shows retail sales reached $560.8 billion in September. This excludes auto dealers and gasoline stations. It’s a 0.28% rise from August and 4.05% higher than last year. The National Retail Federation’s Monitor data showed August grew 0.22% month-over-month and 3.87% year-over-year.
NRF reported that its core-retail calculation, excluding restaurants, auto dealers and fuel stations, totaled $453.1 billion for September, marking a 0.27% month-over-month gain and a 3.73% increase over the same month last year. Those numbers compare with August’s rise of 0.17% month-over-month and 3.47% year-over-year.
Methodology and Channel Performance
The September Monitor figures incorporate a revised research approach that, where possible, assigns online purchases made by brick-and-mortar merchants to the appropriate product categories, allowing sector totals to capture full omnichannel activity, NRF explained. Sales that occur outside traditional stores are now reported separately as unallocated sales.
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By channel, NRF reported the following September changes: General Merchandise rose 0.08% from the previous month and 2.47% versus a year earlier; Furniture & Home Furnishings showed no monthly change and fell 2.7% year-over-year; Building & Garden Supplies increased 0.07% month-over-month and 2.66% annually; Health & Personal Care grew 0.51% month-over-month and 4.46% year-over-year; Electronics & Appliances climbed 0.52% month-over-month and 8.41% over the year; Grocery & Beverage edged up 0.09% month-over-month and 1.9% year-over-year; Sporting Goods, Hobby, Music & Bookstores slipped 0.12% month-over-month but rose 0.2% on a yearly basis; Clothing & Accessories advanced 0.48% month-over-month and 2.21% year-over-year; Miscellaneous Retailers rose 0.58% month-over-month and 5.41% annually; and Unallocated Non-Store Sales grew 0.48% month-over-month and 7.83% compared with a year ago.
NRF also kept Food Services & Drinking Places in the report, noting a 0.3% month-over-month increase and a 5.41% rise year-over-year. “Retail sales rose again last month as consumers continued to spend following a solid back-to-school shopping season,” NRF President and CEO Matthew Shay said in announcing the Retail Monitor findings. “Households remain budget-conscious, concentrating on everyday essentials even as higher gasoline prices continue to absorb a larger share of family budgets. Retailers continued to prioritize affordability, leaning on promotions and value pricing to keep everyday products within reach.”
The Retail Monitor derives its figures from anonymized credit and debit card transaction data and does not require revision on a monthly or annual basis.
