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Holiday Shoppers Spending More

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Dozens of holiday shoppers get an early start at the Mall of America in Bloomington, Minnesota
Dozens of holiday shoppers get an early start at the Mall of America in Bloomington, Minnesota

The National Retail Federation says it was a pretty spectacular opening weekend for holiday sales, up 13% over last year, as shoppers handed over a record amount of cash to retailers, either in stores or on-line.

Federation President and CEO Matthew Shay says shoppers are smarter, more got deals and fewer used credit, with 2/3rds of all transactions paid for either with cash or debit cards. And Shay says a lot of people will be on-line shopping today and while Cyber Monday sales peaked in 2010...they still expect many folks to take advantage of downtime at work to do a little cyber shopping today.

Cyber sales were already up 21% or about 1.5 billion this weekend, and may rise another billion today. 

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