Although fuel prices and inflation are pressuring consumers, retail sales, excluding automobile dealers and gasoline stations, rose in September to $560.8 billion, up 0.28% month over month and 4.05% year over year, according to the CNBC/NRF Retail Monitor.
NRF said the Retail Monitor calculation of core retail sales, which excludes restaurants, auto dealers and gas stations, reached $453.1 billion in September, up 0.27% month-over-month and 3.73% year-over-year. That compared with increases of 0.17% month over month and 3.47% year over year in August.
The September Monitor findings reflect a new research methodology that, when applicable, attributes online sales from store-based retailers to their respective categories, so sector figures reflect total omnichannel spending, NRF pointed out. Other non-store retail results are now included separately as unallocated sales.
September sales movement by channel was, NRF noted:
- General Merchandise up 0.08% month over month and 2.47% year over year
- Furniture & Home Furnishings flat month over month and down 2.7% year over year
- Building & Garden Supplies up 0.07% month over month and 2.66% year over year
- Health & Personal Care up 0.51% month over month and 4.46% year over year
- Electronics & Appliances up 0.52% month over month and 8.41% year over year
- Grocery & Beverage up 0.09% month over month and 1.9% year over year
- Sporting Goods, Hobby, Music & Bookstores down 0.12% month over month but up 0.2% year over year
- Clothing & Accessories up 0.48% month over month and 2.21% year over year
- Miscellaneous Retailers up 0.58% month over month and 5.41% year over year
- Unallocated Non-Store Sales up 0.48% month over month and 7.83% year over year
In addition, NRF maintained Food Services & Drinking Places sales, which gained 0.3% month over month and 5.41% 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 uses anonymized credit and debit card purchase data and does not need to be revised monthly or annually.
