Americans defy slumping economy, spend 41 billion over holiday
Amy Kibler
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By Amy Kibler
Six & Special Projects Producer
Published: December 1, 2008
The slumping economy didn’t keep shoppers out of stores this weekend.
The National Retail Federation says Americans spent 41 billion dollars over the holiday. That’s up 18 percent from last year.
The average shopper spent more than 372 dollars, more than seven percent higher than a year ago.
Discount chains grabbed buyers by slashing prices.
The biggest challenge that faces retailers now is to keep people spending for the rest of the year.
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