"Retailers know that the holiday season is far from over," said Tracy Mullin, President and CEO of the NRF, in a statement. "With Christmas falling at the end of the week and many offices closed on Christmas Eve, consumers have extra incentive to procrastinate this year."
The survey predicts that up to 20% of holiday shopping will occur this week. In addition, about 10% of holiday sales will take place the week after Christmas, when many people redeem gift cards at stores.
The NRF is predicting a 4.5% increase in holiday shopping this year, to $219.9 billion. Retail sales in November were up 4.7%, it says.
Same store sales for the week ending Dec. 11 were up 1.2% year-over-year, according to the International Council of Shopping Centers-UBS Retail Chain Store Sales Index. ICSC predicts a 3.5% to 4% same-store sales increase over the holidays from the same year-ago period.
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