Canadians packed local malls Saturday, getting some last-minute shopping done on the last weekend before Christmas.
Forty per cent of holiday shopping usually takes place in the 10 days leading up to Dec. 25. But analysts say this time around, more people than normal seem to be buying in the final days of the holiday rush.
"I've got my list, so I go store to store and I just keep running," said one shopper in Montreal.
At Toronto's Tiffany and Co., which sells pricey jewelry and accessories, the lineup stretched out of the store and around a corner. The crowd was thick despite the fact that there were no sales inside.
Due to the recession, however, experts say many last-minute shopper may be out of luck. Stores have stocked up on less merchandise than normal, anticipating fewer sales. Many goods are selling out ahead of the big day.
"Retailers prepared well for this holiday season, given what a difficult shopping environment it's been, and their inventory levels are pretty lean," said retail analyst Lori Wachs.
That's left 34 per cent of shoppers hunting for items that have already sold out, according to Consumer Reports.
The weekend before Christmas is usually a boon for retailers, and the busy shopping season comes as signs point to recovery in the domestic economy.
Consumer prices rose by their highest margin in November, according to Statistics Canada.
Meanwhile, one of the country's largest banks predicted growth in 2010. A report from TD Bank forecast that the domestic economy would grow by about 2.7 per cent next year.
With many more shoppers still running the Christmas-shopping gauntlet, time will tell whether retail sales will meet or surpass last year's discouraging totals.
"Retail really took it on the chin in the last two years and, recognizing that, any kind of growth that we can see is good news," said retail analyst Marshal Cohen.
With reports from CTV's Tom Walters and CTV Toronto's Dana Levenson
