More than a third of Americans are expected to shop online on the Monday after Thanksgiving, the single largest e-shopping day of the year. Jeffrey Brown reports on the kickoff of the holiday retail season with a look at how brick-and-mortar stores and e-commerce sites are faring thus far.
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Now: Cash registers are ringing and many merchants are sing online and in the mall, but how's the economy really doing this holiday season?
Jeffrey Brown explores that question.
One hundred and thirty-one million Americans, more than a third of the country, are expected to shop online before this day is out. That's according to the National Retail Federation.
And Brad Wilson at the coupon site BradsDeals.com says a lot is riding on that prediction.
BRAD WILSON, BradsDeals.com:
This day is the single largest e-commerce day all year round. It's so important for the retailers to be competitive.
In fact, holiday cyber-shopping is already well under way. The analytic firm comScore says online sales for Thanksgiving weekend were up 17 percent from last year, helped by greater use of mobile devices.
At the same time, the Retail Federation estimates that total spending over the weekend, including brick-and-mortar stores, was actually down nearly 3 percent from last year. A record 141 million people went shopping, but the average shopper spent nearly 4 percent less than a year ago, partly due to deep discounts.
Some big retailers, Wal-Mart and Macy's, for example, say they're not expecting any growth this holiday season, with six fewer days between Thanksgiving and Christmas.