Transcript for After-Christmas Sales Could Jolt Economy
He just -- in the dorm and an arm full of shopping bags you may already know that this was the third biggest shopping day of the year. And look how far we've come on the left 2007 when the recession began sinking down but -- -- bouncing back up. To 469. Billion dollars in sales this holiday season. So we started the day with two questions will -- shopping bonanza jolt the economy back to health. And we also wanted to know what happens to the fifty billion dollars worth the presence we all return all of those. Sweaters and socks and kitchen tools we -- our cousins don't know we took back. ABC's -- illegal entry is at Macy's right here in New York with answers on both those fronts tonight. -- -- Hey good evening to you -- just to -- -- idea how big today really is there's a new name -- it's called mega Monday and that you can see from the crowd behind me shoppers are still out in full force tonight. Christmas may have come and gone. But stronger than expected post holiday sales may be the gift that keeps on giving well into the spring -- that are part. -- an estimated 469. Billion dollars in holiday spending. The American economy got quite a shot in the arm this year. It will definitely be a good sign -- Consumers throughout their shopping this season people are feeling good and -- out shopping that start to bode well for things to -- In fact 10% of holiday sales are expected to be rung up this week after Christmas drawn in a -- mega sales. As retailers try to clear the shelves of excess inventory shoppers can expect to see huge discounts this week ranging from 52 even 80%. They waited until this day after Christmas they get them. Really terrific deals. Shoppers will also be lining up with their returns expected to take back some 47 billion dollars worth of gifts this year more than 4% from last year. There are some things -- -- said -- -- some good deals through so what happens all those returning gifts. For most stores it would take too much time in staff to inspect repackage and put the items back on the shelves. Especially when they're making room for next season's -- five's. So in many cases you're on one against take a trip. They're packaged up and -- in bulk to off price retailers like TJ Maxx marshalls and Ross -- found these bags in the typical week these stores get up to 101000 pieces of new merchandise. During this is the busiest time of the year for returns. Warehouses are likely to -- even more than that. Meaning some of the best bargains of the holiday season may still be weeks away. That day and I -- with a number of retail analyst today who said that while they expected good holiday shopping season. They're not quite ready to say that the economy is -- a turning point this is a good step it's a first step but there are a lot of other factors to consider when it comes to reviving the economy -- OKV and I thank you so much.
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