Posted: Dec 22, 2010 2:21 PM
Source: Associated Press
CHICAGO - Holiday shoppers are racing to the end of the season at a more feverish pace this year, with retail revenue up 5.5 percent during the last weekend before Christmas.
The figure, released by ShopperTrak on Wednesday, is a drastic improvement from a year ago, when revenue dropped 6.2 percent during the period. The final shopping weekend last year was marred by a big East Coast snowstorm.
ShopperTrak reported shoppers spent $18.83 billion for Dec. 17-19. The number of shoppers rose 3 percent over the weekend before Christmas last year.
The final days leading up to Christmas are important for retailers, as the holiday season is traditionally when they do the bulk of their business. Improved spending is also a sign that the economy may be regaining its footing.