After a stronger-than-expected turnout on Black Friday, the day after Thanksgiving, stores struggled through the first two weeks of December as consumers shopped at a disappointing pace.
Mild temperatures throughout most of the country didn't inspire shoppers to buy winter items. And with Christmas falling on a Monday, the season became another nail biter for retailers as consumers procrastinated with a full weekend to shop before the holiday.
"This is the best time in the world to shop," said Chuck Mingrone of East Haven, Conn., who was leaving a Bath & Body Works stores yesterday at the Westfield Connecticut Post Mall in Milford, Conn., the day before Christmas. He said he expects to do all of his holiday shopping in two hours.
"I do it every year like this," Mingrone continued. "There are no lines and everyone is smiling. Every year, my family makes fun of me for doing this, but they are the ones who are frantic in lines."
Others were forced to shop late for lack of time or because they hadn't been in the mood.
"I don't know. Christmas just crept up on me this year," said Aimee Lovan of Des Moines, who was at the Valley West Mall in West Des Moines, Iowa. "And also the weather. It's been so warm so I haven't been in a Christmas mood."
Based on data released late yesterday by ShopperTrak, sales for both Friday and Saturday generated a combined $16.2 billion, with Saturday's business generating $8.72 billion. But Martin expected Saturday's sales volume to surpass Black Friday's sales, which posted $8.96 billion.
Average weekly sales for December compared with 2005 are up 4.3 percent, short of ShopperTrak's 5 percent holiday forecast.
"We still have the week after Christmas," said Martin. "We are going to need a lot of gift card redemptions." Gift cards are only recorded on a retailers' balance sheet until the cards are redeemed.
This holiday season, consumers shopped early for flat-panel TVs, hot toys like T.M.X. Elmo and new consoles such as Sony's PlayStation3, but held off on apparel, creating a mixed holiday picture.
