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CNN Live Saturday
Retail Stores Still Busy Over Weekend
Aired December 20, 2003 - 12:33 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HOLLY FIRFER, CNN ANCHOR: Well, today is one of the busiest shopping days of the season, if not the busiest. Last minute shoppers are scrambling this final Saturday before Christmas to get their lists completed.
And CNN'S Michael Okwu joins us from New York. He's braving the crowds at Manhattan Mall in Herald Square -- Hi there Michael.
MICHAEL OKWU, CNN CORRESPONDENT: How are you doing, Holly? I'm looking around and there are not too many crowds behind me but we've been here all day. And we've been watching as it's been heating up. As you mentioned, this is the busiest shopping day of the entire year. And if you're looking to beat the traffic no matter where you are, you're probably too late, because retail analysts tell us that Americans still have about a third of their Christmas shopping to do.
(BEGIN VIDEO CLIP)
OKWU (on camera): Do you still have a lot more shopping to do?
UNIDENTIFIED FEMALE: Yes. I'm going to run around the whole mall today.
(END VIDEO CLIP)
OKWU: Now, earlier this morning, we talked to a retail analyst and this is what she had to tell us.
(BEGIN VIDEO CLIP)
DANA, RETAIL ANALYST, BEAR STEARNS: I think part of it is the fun of everyone else going out and shopping also. And the other thing is, the longer you wait, the deeper the discount. The consumers have been trained. The longer they wait, the bigger the markdown and that's where why they're waiting.
OKWU (on camera): So are they going get to the discounts?
TELSEY: They're getting some of the discounts, but don't forget gift cards are important this year. And retailers have less merchandise this year than last year. So if they wait they may not have their size.
(END VIDEO CLIP)
OKWU: Now, one of the other reasons that shoppers stayed out of the stores this season was inclement weather, particularly in the northeast in the -- earlier this month. But of course, that has changed. It's certainly changed today. And in fact, most of the shoppers that we have talked to today say they feel much better about spending money this year as compared to last year. And that bears out to what retail analysts are saying. They expect about a 3 percent to 6 percent bump. And in fact, they say that the size -- the sound of good tidings is going to be the sound of that cash register clicking away.
Back to you, Holly.
FIRFER: All right. Michael, I look -- I will watch my mailbox for the gifts you're going to buy today. Thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired December 20, 2003 - 12:33 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HOLLY FIRFER, CNN ANCHOR: Well, today is one of the busiest shopping days of the season, if not the busiest. Last minute shoppers are scrambling this final Saturday before Christmas to get their lists completed.
And CNN'S Michael Okwu joins us from New York. He's braving the crowds at Manhattan Mall in Herald Square -- Hi there Michael.
MICHAEL OKWU, CNN CORRESPONDENT: How are you doing, Holly? I'm looking around and there are not too many crowds behind me but we've been here all day. And we've been watching as it's been heating up. As you mentioned, this is the busiest shopping day of the entire year. And if you're looking to beat the traffic no matter where you are, you're probably too late, because retail analysts tell us that Americans still have about a third of their Christmas shopping to do.
(BEGIN VIDEO CLIP)
OKWU (on camera): Do you still have a lot more shopping to do?
UNIDENTIFIED FEMALE: Yes. I'm going to run around the whole mall today.
(END VIDEO CLIP)
OKWU: Now, earlier this morning, we talked to a retail analyst and this is what she had to tell us.
(BEGIN VIDEO CLIP)
DANA, RETAIL ANALYST, BEAR STEARNS: I think part of it is the fun of everyone else going out and shopping also. And the other thing is, the longer you wait, the deeper the discount. The consumers have been trained. The longer they wait, the bigger the markdown and that's where why they're waiting.
OKWU (on camera): So are they going get to the discounts?
TELSEY: They're getting some of the discounts, but don't forget gift cards are important this year. And retailers have less merchandise this year than last year. So if they wait they may not have their size.
(END VIDEO CLIP)
OKWU: Now, one of the other reasons that shoppers stayed out of the stores this season was inclement weather, particularly in the northeast in the -- earlier this month. But of course, that has changed. It's certainly changed today. And in fact, most of the shoppers that we have talked to today say they feel much better about spending money this year as compared to last year. And that bears out to what retail analysts are saying. They expect about a 3 percent to 6 percent bump. And in fact, they say that the size -- the sound of good tidings is going to be the sound of that cash register clicking away.
Back to you, Holly.
FIRFER: All right. Michael, I look -- I will watch my mailbox for the gifts you're going to buy today. Thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
