Shoppers More Frugal, Waiting Until After Christmas - 8 News NOW

Shoppers More Frugal, Waiting Until After Christmas

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NEW YORK (AP) -- A company that operates 28 shopping malls across the country is reporting a "very strong weekend," with shoppers taking advantage of sales.

But many last-minute shoppers said they are spending less than they did last year.

Kris Betzold was shopping at an Indianapolis mall Monday, looking for deals on toys. She said the sales are "even better now than they were at Thanksgiving." But she says the economy has prompted her to be more frugal this year.

A woman at an Atlanta mall Monday said she's spending $500 on gifts this year, half the amount she normally spends. Dianne Ashford said, "Times are hard."

Some last-minute shoppers said they are holding off as much as possible for even bigger post-holiday sales.

Maureen Whyte, shopping at Macy's in New York, said she's told her kids that whatever they don't get this week, they'll get later on.

Research analyst Marshall Cohen of the market research firm NPD said retailers will have to be more aggressive than usual with discounts on the days after Christmas. That could mean some stores will cut prices by as much as 80 percent to clear inventory. He said consumers will be "rewarded for waiting."

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