NEW YORK — Retailers who suffered through a miserable November — despite a surge in sales the day after Thanksgiving — are worried that the usual lull between the holiday weekend and the final days before Christmas could be dangerously quiet this year.
With financially squeezed shoppers holding out for even better deals or simply already done shopping, retailers who are already offering deep discounts are likely to be forced to be even more aggressive as they lurch through a season looking to be the weakest in at least 30 years.
Worries about the holiday season increased Thursday after many retailers — with Wal-Mart the notable exception — reported November sales so dismal that it was the industry’s worst month since at least 1969. The malaise cut across all sectors as shoppers worried about layoffs and shrinking retirement funds and focused on necessities.
“It’s an awful beginning to the holiday season,” said Michael Niemira, chief economist at the International Council of Shopping Centers. “This is going to be a difficult holiday season for most retailers. There are going to be more bankruptcies.”
He predicted that the retrenchment in spending will linger for at least another six months.
With five fewer days between Thanksgiving and Christmas this year, retailers are under more pressure to make every day count.
