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Thursday, December 23, 2010

Holiday Shoppers Nudge Economy In The Right Direction

Shoppers walk along 34th Street, in New York City. (AP)

Shoppers walk along 34th Street, in New York City. (AP)

Thursday is expected to be the second-largest shopping day of the season, right behind Black Friday. Procrastinators have already given retail sales a boost, after shoppers dropped $8 billion this past Saturday.

The National Retail Federation predicts that sales for the entire season will increase by 3.3 percent over last year, with online sales increasing a whopping 18 percent. The holiday spending will help nudge the economy in the right direction, but isn’t enough for a full recovery just yet.

Kelli Grant, senior consumer reporter for Smart Money, reports on the shopping season and tells us that a successful holiday season this year, could mean retailers begin the so-called “Christmas creep” even earlier next year.


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