Holiday sales pick up, late surge expected

The pace of holiday shopping picked up last week, but fewer shoppers – about 57% of those surveyed - have completed their shopping compared to the same week last year, according to surveys and data from the International Council of Shopping Centers.

That means there could be a late, significant burst of shopping still to come this season.

For the week ending Dec. 12, sales grew 2.4 % vs. the same week last year and rose 0.4% from last week.

Good news for brands that sell to department stores: Traffic and sales increased at department stores last week as customers sought out apparel while traffic was slower at discount chains, according to the ICSC-Goldman Sachs chain store survey.

Online retailers also appear to be having a strong holiday season. According to data firm comScore, online sales rose 4% last week vs. the same period last year. And those with incomes above $100,000 shopped at twice the pace of the average shopper.

For all of December, the International Council of Shopping Centers predicts sales will increase 2% vs. December 2008. Last December, comp sales fell 4.6%