Can Last-Minute Christmas Shopping Help Economy?

Retailers hope to cash in on holiday consumer frenzy.
3:00 | 12/23/11

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Transcript for Can Last-Minute Christmas Shopping Help Economy?
After Black Friday Cyber Monday and all those other special days -- -- in the final hours now the holiday shopping season so important health of the economy. A staggering 24 million Americans will not complete their Christmas shopping until tomorrow. And so tonight nation's retailers are making a final last minute push to reel in them. And their precious dollars by extending hours and slashing prices and of course the crucial question tonight. Well this frenzy of consumer spending the holiday gift to the fragile recovery. ABC's Jim model is out among the shoppers tonight. And -- good evening to huge. Good evening Josh is the time of the season for discounts and this year it looks like retailers. Are not waiting till after Christmas to start slashing their prices in the annual game of chicken between stores and customers. Tonight the stores have blinked. It's an all out assault on your wallet. Big stores like Macy's staying open all night -- imparting consumers could glaring eye candy -- site. Actually -- the sales this year were -- I felt flat -- -- -- its deal. The biggest bargains warm clothes they want to end this season -- not a lot of sweater is not a lot of jackets not a lot of boots. And not a lot of gifts Toys 'R' Us Restoration Hardware among the dozens of popular stores holding big sales from 25 to 50% off. Before Christmas. On -- Offering 10% off an Amazon cutting toy prices by 75%. Internet retailers averaging more than email every -- to your inbox and why the late push. Retailers trying to get the last time from those 24 million Americans who still have shopping to do. That's -- I always good work on the list. And fourteen Macy's stores across the country. An 83 hour marathon shopping 5:2 AM what a great -- -- -- nice write up the Christmas. I don't know there's -- -- above merchandise from the floor and knowing the battle went to get -- that iPhone. New York Times reporter Noah Rosenberg stayed at the -- who shops at 3 in the morning the answer not so many this prophesied it come. -- -- did seem grateful. In the daylight hours the stores do seem -- And retail sales are expected to jump nearly 4% this year numbers released today -- a small -- in consumer spending and. Personal income they have a little bit more disposable income they're out there willing to spend it and we're seeing that in stores in on line. The best sellers this season for kids Barbie is still hot the old timer and there's a new Elmo doll. As for the adults the -- have it iPods ipads iphones. All flying off the shelves.

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