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WASHINGTON D.C. — Christmas is over but holiday shopping is not, and Wednesday will be one of the busiest days for returns all year. Gift returners will combine with deal seekers for another busy shopping day.
For retailers, this is their last week to ring up profits before the year ends.
They say they need it. Year-over-year holiday sales performance is not what retailers were expecting. It was the worst performance since 2008. Most retailers saw holiday sales increase just under a 1 percent. They were expecting a 3 to 4 percent increase.
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Wednesday they are hoping to get inventory off the shelves and entice shoppers with good deals.
For example, some online retailers like Amazon are featuring 40 to 60 percent discounts on things like jewelry, apparel, and electronics. Kohls is running an early bird special before 1 p.m., and Target is offering a $10 gift card for shoppers who spend $75.
According to MasterCard Advisors SpendingPulse, the final week of December accounts for about 15 percent of the sales during the month.
Contributing: The Associated Press
