The National Retail Federation said today that holiday sales exceeded their forecast, with total sales up 4% to $658.3 billion.
The NRF had forecast a 3.6% gain.
The trade group said that the strengthening economy had lead consumers to spend more freely.
Non-store retail sales, i.e., online sales, grew 12.6% to $122.9 billion, more than the 7% to 10% gain forecast.
“These numbers show that the nation’s slow-but-steady economic recovery is picking up speed and that consumers feel good about the future,” NRF President and CEO Matthew Shay said in a statement. “Retail mirrors the economy. And while there might have been some bumps in the road for individual companies, the retail industry overall had a solid holiday season and retailers will work to sustain this in the year ahead.”
