Video: Ringing up holiday sales
Transcript of: Ringing up holiday sales
LESTER HOLT, anchor: The season of giving has given way to the season of giving back and cashing in on the post- Christmas bargains. Retailers who this year have been especially eager to brand every big day on the shopping calendar are calling this one Mega Monday. While no doubt a lot of weary shoppers are sitting it out, you wouldn't know it from the scenes that played out in many malls today. Asked to list their top reasons for wading back into stores this week, 82 percent in a Consumer Reports poll listed those post-holiday sales. Around half also said redeeming gift cards . While nearly a third said returning gifts was a top motivating factor, too.
HOLT: All of which explains why NBC 's Ron Mott has got lots of company there in New York 's Herald Square tonight. Ron , it looks like a lot like the day before Christmas .
RON MOTT reporting: Indeed it does, Lester . Good evening. The doors here at Macy's have gotten a pretty good workout today as a nation of re-energized shoppers are back on the hunt tonight, hoping to bag the biggest bargains.
Unidentified Woman #1: OK.
MOTT: From the West Coast ...
Woman #1: We look forward to it every year.
MOTT: ...to the nation's capital...
Unidentified Woman #2: It is definitely worth going out the day after.
MOTT: ...on this day after Christmas , shoppers streamed into stores by the millions to buy.
Unidentified Woman #3: The greatest deals. I'm impressed.
Unidentified Woman #4: We split up and go get all stuff before anybody else can grab them.
MOTT: Stuffing by one estimate $8 billion into registers today alone.
Unidentified Man #1: Got to exchange it. Return it, get something that you want.
MOTT: And to get retailers to buy back.
Unidentified Woman #5: Enjoy your day.
MOTT: According to the National Retail Federation about $46 billion in returns by season's end. And with up to 10 percent of all holiday revenues tallied this week, experts say sales floors should stay busy.
Mr. MARSHAL COHEN (Retail Analyst): It's really about what I call frugal fatigue. The consumer is tired of living in this no spending bubble that they've been forced into, so they're now starting to step out and spend.
MOTT: Discount was the word of the day .
Unidentified Woman #6: Good sales. Everything is 75 percent off at least.
Unidentified Woman #7: Like 60 percent to 75, which is nice.
MOTT: The deals weren't limited to brick and mortar stores. They were online, too. In Charlotte , socks went for a song.
Unidentified Woman #8: They said they were 2.99 but when I got to the register she had taken another 20 percent off.
MOTT: Holiday decorations for next year brightened up the savings.
Unidentified Woman #9: All the LED lights, I cleaned them out.
MOTT: Along with shoppers, gift cards , an estimated $28 billion in plastic funding many after Christmas purchases. A new Consumer Reports study found of the 113 million Americans who got them last year, one in four still hadn't used them. Not this couple. They've already swiped up their opportunity.
Unidentified Man #2: You get a chance to use them right after Christmas .
MOTT: But not everyone is in a shopping mood. Most Americans, 60 percent, will avoid the after Christmas crush altogether. The number one reason, stores are too crowded. Others are sick of shopping or they've simply run out of money.
Unidentified Man #3: There's a whole lot of people in there, you know what I mean ? So you can't really take your time.
Unidentified Man #4: We saw a couple things that had gone on sale recently and that's what caught my attention, but I wasn't interested in buying any of it.
MOTT: Final holiday sales numbers are due out in about two weeks. It should help determine whether retailers carry these aggressive discounts deeper into the new year than they'd really like. Lester :
HOLT: Ron Mott , thanks.
Data: Latest rates in the US
|Mortgage rates||View rates in your area|
|30 yr fixed mtg||4.28%|
|15 yr fixed mtg||3.30%|
|30 yr fixed jumbo mtg||4.68%|
|Auto rates||View rates in your area|
|48 month new car loan||2.92%|
|36 month used car loan||3.07%|
|36 month new car loan||2.56%|
|Home equity rates||View rates in your area|
|Home equity type||Today||+/-||Chart|
|$30K HELOC FICO||4.74%|
|$30K home equity loan FICO||5.36%|
|$75K home equity loan FICO||4.72%|
|Credit card rates||View more rates|
|Card type||Today||+/-||Last Week|
|Low Interest Cards||10.91%||10.91%|
|Cash Back Cards||16.32%||16.36%|
|Savings rates||View rates in your area|
|Money market account||0.39%|
|$10K Money market account||0.35%|
|6 month CD||0.37%|