As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Just like past years, stores will open early on December 26 to try to draw shoppers in with deep discounts. It’s a way for retailers to get one last revenue push before the new year, and to clear inventory that didn’t sell before Christmas.
This year, the calendar is more favorable than usual for retailers because of the three-day weekend. Many workers will take off Friday — and hopefully shop. “Giving people more time to shop, giving them a little bit more room, and giving them a little bit more money in their pocket thanks to lower gas prices, could make a difference for retailers,” says Claes Bell, an analyst at Bankrate.com.
Economist Chris Christopher at IHS says consumers are heading into 2015 more optimistic about job prospects and personal finances than in previous years. He predicts retail sales for the 2014 holiday season will rise more than 4 percent, compared to the 3.1 percent increases in 2012 and 2013.
At a Christmas Eve open-air craft market called “Festival of the Last-Minute” in Portland, Oregon, shoppers were mixed on whether they wanted to go back out for more shopping on the post-Christmas weekend. “I have in the past, but I probably won’t now, I probably won’t brave the crowds,” says Britt Fredrickson, who has two young children. “I just don’t need any more stuff right now.”
But Jessica Martin-Weber, who has six daughters, said she’s looking forward to getting out. “My husband and I typically get the day after Christmas or the day after that, where we go catch a movie and we do some shopping.”
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