Monday, November 28, 2011

Video: Making Christmas merry in gloomy economy



>>> shoppers and retailers alike welcome some beautiful weather over much of the nation today as the opening weekend of the holiday shopping season continued. new figures out tonight indicate a strong start. sales up more than 6% over last year. buyers spent $11.4 billion on black friday. that's up nearly $1 billion from a year ago. we get more now from abc's john yang .

>> reporter: across the country, the weekend shopping spree continues full force . at a washington bookstore, the first family got into the act. early numbers show shopping's been particularly strong online. according to idm core metrics, black friday internet buying jumped nearly 25% over last year, and a whopping 39% on thanksgiving day .

>> it's getting bigger and bigger and bigger every year. about $60 billion is actually going to be transacted online this year.

>> reporter: analysts say it's driven by the search for the best possible deals.

>> i'm going to be spending less because we just don't know what the future holds.

>> once i reach my limit, that's it. so everything's on a budget.

>> reporter: but not everyone's feeling the pinch. analysts say the affluent are looking for the highest quality possible and the latest most innovative products.

>> we've we're seeing higher tickets being sold. they may not buy as much but they're buying the items that are the most expensive. at the low end it is all about the price. the deals that are out there, they're extensive and they're coming at all different times.

>> i wish you guys had layaway.

>> reporter: layaway is one way retailers like walmart are trying to appeal to budget-conscious shoppers. it allows them to make small payment over time before getting the product. this woman is trying its for the first time.

>> it was a good deal. if we could pay for it slowly why not?

>> reporter: financial experts say it could help consumers with bad credit but urge them to read the fine print because it can end up being more expensive than using a credit card . and there are other potential pitfalls, too.

>> there are some retailers that if you make three or four payments and decide you don't want the product you won't be able to get a refund and you're out the products.

>> reporter: it's a risk some are willing to taken to sure a merry christmas even amid a gloomy economy. john yang , nbc news, new york.

Source: http://video.msnbc.msn.com/nightly-news/45445867/

jacksonville jaguars jacksonville jaguars home affordable refinance program harp