Report: 2012's Biggest Retail Week Still to Come Dec 12, 2012

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Retail foot traffic was up 3.7% and sales were up 2.3% year-over-year for the week beginning Nov. 25 and ending Dec. 1, 2012, according to ShopperTrak.

The retail tracking firm said the week after Thanksgiving typically sees a drop in traffic compared. Traffic was down 28.8% from the 2012 Black Friday shopping week and was down 22.4% in sales. The firm said Shoppers often stay at home after Black Friday week to assess their budgets and develop new shopping lists.

In addition, according to ShopperTrak founder Bill Martin, many shoppers scale back store visits to shop online for Cyber Monday deals. "We expect consumers to return to stores in increasing numbers to complete their holiday shopping in the coming weeks," he added.

With the likelihood that some shoppers may wait for retailers to reduce prices prior to Christmas for last-minute deals, the firm predicts the week before Christmas - the week of Dec. 16 - will be the largest retail sales week of the 2012 year.

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