Record crowds over weekend, but spending declined
NEW YORK - They came. They shopped. They didn't buy as much.
That's the assessment of the first weekend of holiday shopping based on a survey from The National Retail Federation.
The survey suggests there were a record number of shoppers online and in stores for the four-day period. But that did not translate to record spending.
One analyst says shoppers can expect an increase in markdowns from retailers as they try to boost sales through the rest of the season.