NEW YORK TRUCKSTOP

Subscribe to Our Newsletter

The online community for the New York Metro area trucking industry. Subscribe to our newsletter.

  • Home
  • About
  • Blog
  • Resources
  • Contact Us
You are here: Home / Business / Despite Inflation US Retail Sales Jump

Despite Inflation US Retail Sales Jump

November 17, 2021 By New York Truckstop Leave a Comment

FacebooktwitterpinterestlinkedinmailFacebooktwitterpinterestlinkedinmail

The National Retail Federation (NRF) forecasts that  holiday sales during November and December will grow between 8.5 percent and 10.5 percent over 2020 to between $843 billion and $859 billion. Though the economy needs a robust shopping season, inflation caused by the supply chain crises made this a bold prediction. However, the October retail sales confirm NRF’s prediction. 

US retail sales rose in October for a third month, signaling households continue to spend even with the fastest inflation in decades. The value of overall retail purchases increased 1.7 percent in October, the most in seven months, following an upwardly revised 0.8 percent advance in September, the Commerce Department reported. This represents a 16 percent increase from the previous year and came to about $638 billion overall. 

Rising wages as well as elevated spending has helped US consumers sustain a robust pace of spending headed into the heart of the holiday shopping season. 11 of 13 categories registered sales increases. Electronics and appliance stores saw a large surge in sales, as did building materials stores and non-store retailers, including e-commerce. Unfortunately, restaurant and bar receipts continue to barley move the needle. Help may be on the way for restaurants and bars though now that the international travel ban has been lifted. An influx of tourists in November and December should lead to increases in restaurant receipts.  

Lastly, given the continued struggles of small businesses  it is imperative that people shop and support local as much as possible this holiday season. This includes shopping at the store or through their website, buying gift cards, ordering takeout as well as social media shoutouts, leaving positive reviews, signing up for their newsletter, and recommending to friends, family, and coworkers. The strong economic predictions for retail closing out 2021 seem to be coming to fruition. We must make sure that our local spots are not left behind.

Print Friendly, PDF & EmailPrint Friendly
FacebooktwitterpinterestlinkedinmailFacebooktwitterpinterestlinkedinmail

Filed Under: Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

FOLLOW US

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

SPONSORED BY

Arthur Miller Attorney at Law

The Law Firm of Arthur L. Miller

The Law Firm of Arthur L. Miller The law firm of Arthur L. Miller specializes in transportation and traffic issues … Read More...

TOPICS

  • Business
  • Certified WeighMasters
  • Class Action Suits
  • Climate & Energy
  • Construction Jobs
  • COVID-19
  • Driver Education
  • Fares Fees Tolls
  • Federal
  • Funding
  • Immigration Law
  • International Trade
  • Legislation
  • New Jersey Legislation
  • New Legislation
  • New York City
  • New York State
  • Parking
  • Pending Legislation
  • Safety
  • Strategies for Urban Mobility Policy: Sustainable Delivery Bills (eacreative.nyc)
  • Tips
  • Truck Tractor Trailer
  • Uncategorized
  • Worker Safety

Our Latest Tweets

Tweets by @nyctruckstop

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Contact Us

34-18 Northern Blvd.
Long Island City, New York 11101

Phone: 718-997-0641
Fax: 718-997-0245
No Fields Found.

Copyright © 2025 New York Truck Stop Enterprises LLC     |     Site developed by Good2bSocial