CNBC/NRF Retail Monitor’s January data shows fourth consecutive monthly gain

Retail sales saw a moderate monthly increase and strong year-over-year gains in January, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by NRF.

“Consumers demonstrated continued resilience in January, showing moderate spending growth on the heels of record-high spending during the holiday season,” NRF President and CEO Matthew Shay said. “This was the fourth consecutive month that sales rose from the month before, and year-over-year gains were particularly strong. Consumer spending continues to drive the broader economy forward, supported by healthy household finances and real wage gains that have increased purchasing power. Retailers are doing their part by leveraging supply chains and new technologies to ensure that products remain affordable for American families.”

Total retail sales, excluding automobile dealers and gasoline stations, were up 0.2% seasonally adjusted month over month and up 5.72% unadjusted year over year in January, according to the Retail Monitor. That compared with increases of 1.26% month over month and 3.54% year over year in December.

The Retail Monitor calculation of core retail sales (excluding restaurants in addition to auto dealers and gas stations) was up 0.15% month over month in January and up 5.51% year over year. That compared with increases of 1.6% month over month and 3.58% year over year in December.

January’s results follow a record-breaking November-December holiday season, which grew 4.1% year-over-year based on Retail Monitor data released last month.

Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.

January sales were up in all but one of nine categories on a yearly basis, led by clothing stores, digital products and health and personal care stores, and were up in four categories on a monthly basis. Specifics from key sectors include:

• Clothing and accessories stores were up 0.23% month over month seasonally adjusted and up 9.39% year over year unadjusted.

• Digital products (such as electronic books and games) were up 1.22% month over month seasonally adjusted and up 6.45% year over year unadjusted.

• Health and personal care stores were up 0.66% month over month seasonally adjusted and up 5.98% year over year unadjusted.

• General merchandise stores were down 0.05% month over month seasonally adjusted but up 5.46% year over year unadjusted.

• Grocery and beverage stores were up 0.37% month over month seasonally adjusted and up 5.41% year over year unadjusted.

• Sporting goods, hobby, music and book stores were down 0.37% month over month seasonally adjusted but up 4.94% year over year unadjusted.

• Electronics and appliance stores were down 0.18% month over month seasonally adjusted but up 2.54% year over year unadjusted.

• Furniture and home furnishings stores were down 0.31% month over month seasonally adjusted but up 2.39% year over year unadjusted.

• Building and garden supply stores were down 0.15% month over month seasonally adjusted and down 6.26% year over year unadjusted.