GLENDALE, Calif. (KTLA) — The first numbers are coming in for the holiday shopping season, and they’re lower than expected.
Even though malls were crowded and online buying was up from last year, sales still did not meet expectations, according to analysts.
On a national level, holiday spending was at its lowest level since 2008.
But locally, the Glendale Galleria says that sales were up five percent compared to last year.
Shoppers who spoke to KTLA said there were deals and steals everywhere on the day after Christmas.
Nationwide, between late October and Christmas Eve, retail sales rose just seven-tenths of one percent from last year.
The 2012 holiday season may have been the worst for retailers since the 2008 financial crisis. The first numbers coming in show sales grew far below expectations, forcing many stores to offer deep post-Christmas discounts in hopes of shedding excess inventory.
