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US retailers are relying on a post-Christmas surge to hit their holiday sales targets after the pre-Christmas period fell short of expectations. Forecasters and retailers had looked forward to a sharp rebound this year, fuelled by a recovering economy, after a holiday season last year that was by some measures the worst for 30 years. But while higher-income shoppers have opened their wallets, bolstering upmarket retailers' sales, lower-income shoppers have remained cautious. Another factor skewing the results has been rapid growth in gift cards and certificates, estimated to account for 8-10 per cent of holiday sales this year. Retailers book revenues from these when they are redeemed by their recipients, not when they are first sold.
Approximate Word count = 442
Approximate Pages = 1.8
(250 words per page double spaced)
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