Retailers Banking on Post-Holiday Sales

Shoppers who headed back to stores on Wednesday were greeted with door-busting deals that some say are better than those on Black Friday.

Seemingly still in the holiday mode, stores opened early and plan to stay open late, with prices marked down and offering fresh promotions, all in an effort to entice people returning gifts.

According to the National Retail Federation, 10-percent of all gifts will be returned.

Experts predict that Wednesday will be among the top five shopping days of the year. Last year, analysts said shoppers spent more than $7 billion on the day after Christmas.

Amazon is offering a 46-inch TV, marked down 44-percent, for just $338. Best Buy cut the price of a Nikon digital camera by 50-percent, to $129.99; and a $170 cashmere sweater from Bloomingdales is now $89.99.

Retailers need a boost. Early figures show this holiday shopping season has been the weakest since 2008. Shoppers' spending moods were dampened by Hurricane Sandy, the Newtown shooting tragedy and the fiscal cliff threat in Washington.

"I think with the worries what we're going to be dealing with at the end of the year, tax-wise and everything like that, it definitely has curbed our spending, for sure," shopper Dave Henry said.

New figures show sales increased only seven-tenths of a percent from last year. Experts had predicted a gain of anywhere from three to four-percent.


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