Shoppers are out, but wait for more discounts [View All]

[steven johnson]

In this game of shopping 'chicken', consumers are betting there will be more discounts before Christmas.

NEW YORK - Holiday shoppers were out in full force this weekend but sticking closely to their lists. Many are holding out for bigger discounts, and those could be coming this week.

While heavy traffic and little sign of clearance discounts during the weekend are clear improvements for retailers from last year's dismal season, consumers are still waiting to see if better deals are coming before Christmas.

"This weekend is the last weekend for retailers to try to get whatever they could. Now it's the consumer's turn," he said. "Every retailer will pick a different day this week to deepen the discounts. Fifty percent off will be the starting point, and it will go up to 60 percent and 75 percent off within the store."

Grappling with the weak economy and high unemployment, consumers have been skittish on spending this year. But there are signs that is improving. The Commerce Department reported Friday sales rose 1.3 percent last month, after a 1.1 percent October gain, the healthiest advance since August and more than double the increase economists had expected.

Shoppers are out, but wait for more discounts