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January 5th, 2010Christmas week shopping surged

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by Blake Ellis
Money.CNN.com

New York — Retail sales surged 8.8% during the week that included Christmas, although foot traffic was down slightly, according to an industry group report issued Wednesday.

Four of the season’s top seven days of traffic were during the week ended Dec. 26, sales and traffic tracking firm ShopperTrak reported. The firm based its results on a sample of over 50,000 retail stores and enclosed malls.

The week followed a disappointing Saturday before Christmas, Dec. 19, that saw the major cities in the Northeast socked by a huge snowstorm.

“As expected, pent-up demand following the snowstorm on Super Saturday (Dec. 19) pushed consumers to spend heavily last week,” Bill Martin, co-founder of ShopperTrak, said in a statement.

Shoppers bought even more the day after Christmas than they did during the week leading up to the holiday, the report showed.

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