Businesses See Higher Holiday Revenue In 2012

By Dave Leval

December 24, 2012 Updated Dec 24, 2012 at 6:16 PM EST

FORT WAYNE, Ind. (www.incnow.tv) - Consumers will shell out an estimated $585 billion for Christmas gifts this season.

There are 32 days between Thanksgiving and Christmas this year, but retail figures show the 10 days before Christmas account for one-third of total annual retail sales.

Industry analysts say lack worry over the fiscal cliff resolution and the tragic school shooting last week in Newtown, Conn., have caused shoppers to hold on to more of their money this year.

On the retail side, businesses opening on Thanskgiving night and starting Black Friday sales earlier may have helped to counter lacking consumer confidence.

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