NEW YORK (CBSNewYork/AP) — ‘Tis the season…for last minute shopping.
If you’re hitting the stores today, you’ll probably have company. As CBS 2’s Alexis Christoforous reports, retail analysts say one in five shoppers didn’t start their shopping until Wednesday.
The race to the end of the holiday shopping season means big numbers when it comes to retail revenue — it’s up 5.5 percent during the last weekend before Christmas.
The figure, released by ShopperTrak on Wednesday, is a drastic improvement from a year ago, when revenue dropped 6.2 percent during the period. The final shopping weekend last year was marred by a big East Coast snowstorm.
1010 WINS’ Juliet Papa reports from the Columbus Circle shops
WCBS 880’s Mike Xirinachs at the Roosevelt Field Mall
And with Christmas falling on a Saturday, retail experts predict that Thursday could be, after Black Friday, the second busiest shopping day of the season in terms of sales, and the third biggest shopping day in foot traffic.
ShopperTrak reported shoppers spent $18.83 billion for Dec. 17-19. The number of shoppers rose 3 percent over the weekend before Christmas last year.
The final days leading up to Christmas are important for retailers, as the holiday season is traditionally when they do the bulk of their business. Improved spending is also a sign that the economy may be regaining its footing.