Stores mark down items as Christmas approaches

Stores mark down items as Christmas approaches

By Molly Waldron. CREATED Dec 18, 2012

Las Vegas, NV (KTNV) -- Big sales may be coming as shoppers are cutting back on holiday gift buying.

Thanksgiving was a big shopping weekend, but since then consumers have taken a step back.

Now, retailers have some catching up to do.

Overall, sales are up -- but lower than expected for this year.

Spending Pulse said last year retailers pulling in around $147 billion in sales during the ten days before Christmas. That's nearly 24 percent of the holiday season's total.

According to analysts, this year that percentage will have to increase for the Christmas season to be a success for retailers.

That's good news for shoppers, who may see heavy markdowns coming soon.

Stores like Old Navy and even high-end department stores like Barneys and Neiman Marcus are already advertising discounts on clothing.

Many retailers plan to stay open for days straight before the holiday. Macy's has announced its stores will be open for 48 hours straight the two days leading up to Christmas Eve.

The Miracle Mile Shops at Planet Hollywood Resort and Casino will also be open for last-minute shoppers on Christmas Eve and Christmas Day.