Holiday Retail Sales Down
December 23, 2013
NATIONAL (WENY) -- Although this morning is the start of the last push for those last minute holiday shoppers, numbers from the season show lower than expected totals.
Retail sales were sluggish this holiday season, leaving lots of unsold inventory.
The good news is it will probably man bigger than usual after Christmas sales. It's expected that stores will be pushing 50%, 60% or even 70% off sales following the holiday.
Amazon is already offering some 70% offers on select items. Online sales are up from where it was five years ago. But retailers' margins have been hurt because of discounting and free shipping.