Shoppers Spend Billions Over The Weekend

Sunday, November 25th 2007, 5:24 pm

By: News On 6

NEW YORK (AP) -- Holiday cheer is translating into cold hard cash for retailers so far this season. A retail industry tracking group reports that sales over the past two days rose more than 7% compared to the same time last year. ShopperTrak tallies up a total of more than $16 billion for Friday and Saturday.

The online shopping scene is even brighter. An Internet research firm reports a 22% gain in online sales the day after Thanksgiving compared with the same day a year ago. ComScore estimates Cyber Monday's sales could exceed $700 million.

One industry analyst says consumers were filling the malls with their lists in hand and going on "mission-based" shopping excursions.

The nation's stores worked hard to lure consumers in with expanded hours, including midnight openings, and a blitz of early morning specials.