Retail sales rebounded in October, suggesting consumer purchasing has sustained momentum as the holiday selling season opens despite economic disruptions, according to the CNBC/NRF Retail Monitor.
The monthly study, released by the National Retail Federation, indicated total retail sales in October, excluding automobile dealers and gasoline stations, advanced 0.6% seasonally adjusted month over month and 5% unadjusted year over year. The figures compared with a decrease of 0.66% month over month and an increase of 5.42% year over year, respectively, in September.
The Retail Monitor calculation of core retail sales, which excludes restaurants in addition to automobile dealers and gasoline stations, gained 0.6% month over month in October and 4.89% year over year. In September, core retail sales decreased 0.49% month over month but increased 5.72% year over year.
Total sales increased 5.11% year over year for the first 10 months of 2026 and core sales grew 5.28%.
The October results come after NRF forecasted 2025 holiday sales would increase between 3.7% and 4.2% from 2024 to just over $1 trillion.
By channel, Retail Monitor noted, the October results were:
- General merchandise stores were up 0.58% month over month seasonally adjusted and 6.99% year over year unadjusted.
- Furniture and home furnishings stores were down 0.08% month over month seasonally adjusted and 1.7% year over year unadjusted.
- Building and garden supply stores were down 0.81% month over month seasonally adjusted and 8.52% year over year unadjusted.
- Electronics and appliance stores were up 0.13% month over month seasonally adjusted and 6.58% year over year unadjusted.
- Grocery and beverage stores were up 0.59% month over month seasonally adjusted and 4.08% year over year unadjusted.
- Health and personal care stores were up 0.58% month over month seasonally adjusted and 1.9% year over year unadjusted.
- Sporting goods, hobby, music and book stores were up 0.09% month over month seasonally adjusted and 7.19% year over year unadjusted.
- Clothing and accessories stores were up 1.42% month over month seasonally adjusted and 7.89% year over year unadjusted.
- Digital products, such as electronic books and games, were up 2.02% month over month seasonally adjusted and 22.39% year over year unadjusted.
“Retail sales grew in October as consumers geared up for the holiday season,” NRF President and CEO Matthew Shay said. “Recent economic data has been mixed, yet consumer spending remains solid supported by wage growth outpacing inflation, historically low unemployment and wealth effects from strong stock market valuations. These factors point to continued momentum heading into the holidays as consumers focus on family, friends and finding value to make their budgets go further.”
Unlike survey-based sales numbers collected by the United States Census Bureau, the Retail Monitor uses anonymized credit and debit card purchase data compiled by Affinity Solutions that doesn’t need to be revised monthly or annually.
