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Post-Christmas sales disappoint retailers

28
Dec '07
Although, buyers generally wait for Christmas to approach, before indulging in a shopping spree, this year however, around 9.4 percent of the festive shopping was done after Christmas.

Experts believe that shoppers are likely to spend nearly US $2.3 billion for household and entertainment products, while an average of $938 million may be spent on clothing and footwear.

Post-Christmas scenario stood true to the expectations. Shops opened earlier than the other day with the hope with a cut in prices, discount seekers and card recipients would pull up the sales.

Estimates showed 3.6 percent increase from Thanksgiving to Christmas, compared to a 6.6 percent jump in the previous year.

Some of the shops even offered as much as 50 percent off on certain selected products and although post-Christmas shopping lasted for about a week, it is likely to get extended into mid-January this year.


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