U.S. holiday sales endure supply chain, Omicron snags to hit $887 billion, NRF says

1 min


179
118 shares, 179 points

Shoppers carry bags inside the Westfield San Francisco Centre shopping mall in San Francisco, California, U.S., on Wednesday, Dec. 22, 2021.

David Paul Morris | Bloomberg | Getty Images

U.S. holiday sales hit a record $886.7 billion in 2021, data from a trade body showed on Friday, as people rushed to buy gifts online and in stores amid a jump in Covid-19 cases and supply chain issues that threatened to upend the crucial shopping season.

The National Retail Federation (NRF) said holiday sales, including e-commerce, jumped 14.1% during November and December, marking the highest growth in at least two decades and exceeding its latest forecast of a rise of as much as 11.5%.

“Despite supply chain problems, rising inflation, labor shortages and the Omicron variant, retailers delivered a positive holiday experience to pandemic-fatigued consumers and their families,” NRF Chief Executive Officer Matthew Shay said in a statement.

The shopping season, the busiest time of the year for retailers, was marked by shipping delays caused by the pandemic and subsequent product shortages.

To ensure supply over the make-or-break season, some retailers such as Walmart and Target re-rerouted goods to less congested ports and even chartered their own vessels to get holiday items to their shelves on time.

An Omicron-led surge in coronavirus cases at the end of the year also added to retailers’ woes, limiting staffing and reducing store traffic.

That led to retail sales in December, excluding automobile dealers, gasoline stations and restaurants, falling 2.7% from November, according to NRF data. E-commerce and other non-store sales, however, jumped 11.3% in the holiday season.

Source: CNBC


Like it? Share with your friends!

179
118 shares, 179 points

What's Your Reaction?

Cute Cute
24
Cute
Fun Fun
16
Fun
Hate Hate
10
Hate
Confused Confused
26
Confused
Fail Fail
18
Fail
Geeky Geeky
13
Geeky
Love Love
5
Love
OMG OMG
26
OMG
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format