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CHICAGO - US retail sales rose 23 per cent on the weekend before Christmas as consumers swarmed stores for last-minute gift shopping.
December 23 was probably the second biggest shopping day of the year, with sales of about US$8.72 billion ($12.44 billion), research firm ShopperTrak RCT said yesterday. Sales for December 22 and December 23 combined were 22.5 per cent over a year ago, the Chicago-based research company said.
The surge may help retailers meet a forecast for a 5 per cent sales gain this holiday season.
That would be the slowest pace since 2002, though still exceeding the 4.6 per cent average of the past 10 years, according to National Retail Federation data.
"The total dollars spent indicate a very strong close to the holiday shopping season," said ShopperTrak co-founder Bill Martin. "Retailers should be very pleased with this last-minute sales boost."
The firm measures foot traffic in shopping centres and malls using more than 45,000 video devices. ShopperTrak doesn't include Wal-Mart Stores, the world's largest retailer, which has been struggling to boost sales.
Wal-Mart expects December comparable-store sales to rise as much as 1 per cent, which would be the smallest gain since 2000.
Wal-Mart on December 22 was offering discounts including 37-inch flat-screen TVs for US$997, down from US$1297.
The biggest shopping day of the year was the day after Thanksgiving, when consumers spent US$8.96 billion, according to ShopperTrak.
Customer traffic at Taubman Centres malls on December 23 reportedly increased more than 10 per cent at some locations, with merchandise selling at full prices.
A number of Taubman's 23 malls reported an increase in male shoppers. Gift card sales rose in the "double digits" at several, and sales of jewellery, handbags, electronics, perfume and cosmetics gained.
Two malls said sales of coats and jackets suffered because of mild temperatures.
- BLOOMBERG
