Holiday Retail

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Monday, December 27, 2010 - 5:02pm

Retailers' hopes are high for a post-holiday surge of shopping with gift cards.

Retailers are seeing their best holiday season in years and it seems a blizzard isn't even enough to stop a red hot sales season.

Even though unemployment is still around 10%, it seems consumers are feeling better about the economy.

It's been a huge holiday sales season, and retailers are looking to end 2010 in the black.

The whiteout on the East Coast isn't helping but not even old man winter can stop die-hard shoppers.

Scott Krugman of the National Retail Federation says "ultimately, we think the blizzard won't have a tragic effect on the retail industry. If anything, it might just displace some of the sales that we would've seen the day after Christmas and move them later into the week."

Bargain hunters are back and though a third of gifts may be going back for a refund or exchange, stores are expecting to cash in on gift cards.

The biggest boom this year was online; sales jumped 15%.

Diane Swonk, an Economist with Mesirow Financial says "we've seen conspicuous consumption come back, people are willing to light their houses and put more gifts under those trees."

Cars were back on the wish list this year and so were pickup trucks which sends a hopeful message.

Marc Cannon of AutoNation says "the economy is starting to recover, small business is back engaged and there's a sense with the consumer that things are getting better."

US retailers, ending the year with a bang, and some serious bargains.

Official numbers won't be out until late next week but the National Retail Federation has already had to revise its holiday sales estimates upward.
 

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