Entering The Final Stretch

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Monday, December 20, 2010 - 4:26pm

Shoppers are flocking to stores to complete their holiday shopping.

At the nation's malls it's beginning to look a lot like Christmas used to, with sales that almost resemble the pre-recession days.

On the final weekend before Christmas stores across the country were packed.

In Minnesota, the Mall of America broke records, and shoppers everywhere seemed willing to open their wallets for the right price.

"Retailers have really done a good job this year of managing the merchandizing levels and putting the pricing where they need to be to keep people excited about shopping," says Cory Scott, a senior property manager for Virginia's Tysons Corner Center.

The National Retail Federation has already raised its estimates, now predicting sales up 3.3 percent over last year.

So far clothing sales are up 9.8 percent from last year, jewelry, 2.6 percent, while books, music, hobby and sporting goods spiked 2.3 percent.

Online spending has also seen big gains this year.

The one area we are not seeing increased sales: Electronics.

There have been so many price cuts to things like plasma TVs that revenue is just about flat from last year.

With less than a week to go the holiday rush is in full swing, with the shipping and shopping serving as good signs that american spending may be making a comeback.
 

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