SOUTHFIELD, Mich., Dec. 27 (UPI) -- Retailers were hoping Monday for a post-holiday spending surge to make up for the slow pace of 2004's holiday shopping season, USA Today reported.
Stores have been advertising post-Christmas sales since several days before the holiday in an attempt to lure customers with savings, the newspaper said.
Experts have said they expect stores to be packed with consumers wielding gift cards and cash gifts. They also said many shoppers will be out seeking New Year's party clothes.
Retailers may have avoided catastrophe ordering their holiday stocks with caution when the economy was weak last spring. However, their profits for the next year may depend on how they move remaining inventory.
"The biggest opportunity they have will be managing the flow of new goods into the stores as they sell out markdown merchandise," says Gary Ruffing, head of the Retail Services Group at Southfield, Mich., management consulting firm BBK.
MasterCard reports holiday spending was up 8.1 percent -- nearly double the prediction of the National Retail Federation, the Wall Street Journal reported. Internet sales were reported up 28 percent to $15.5 billion.
