Store owners expect holiday sales will grow more than 3 percent this year even though more people are shopping online. Fred Katayama reports.
Americans will be spending more money at malls this holiday season. The International Council of Shopping Centers forecasts spending at physical stores will rise 3.3 percent this year. That's a bigger increase than last year. Its survey showed shoppers plan to shell out $684 on average this year. The omnichannel experience of researching or shopping for items online but picking them up at the store is becoming more important. Although three-fifths of respondents plan to shop at Amazon.com, most also said they will spend money at physical stores or at online retailers that have physical stores. 39 percent plan to buy online but pick up those items in-store to save on shipping costs. Jeff Tomasulo of Vespula Capital: SOUNDBITE: JEFF TOMASULO, CEO, VESPULA CAPITAL, (ENGLISH) SAYING: "When I look for the holiday season, I think Best Buy. I think Amazon is going to have a really good period. But when uou lok at where these stocks have been, Amazon has been up almost 27 percent year-to-date. Best Buy is up over 20 percent year-to-date. You've got to be very careful and pick and choose your stocks especially when they've had moves like that already." The most popular items shoppers plan to buy are stocking stuffers: gift cards or certificates.