Post-Christmas sales won't be as high as expected

NEW HAVEN, Conn. (WTNH)-- There is calm in the cold morning air, the rush not yet started.  And although Christmas is over, the annual trek to shopping centers and malls is not over.

"It's still early, I'm sure by ten o'clock it will be rip-roaring ready to go," said shopper Charlie Alexander.

You don't need an economist to know success in capitalism lies, in part, to what people spend.  In fact, even the Governor was hoping for an increase in revenue from holiday sales, tied to our 6.35 % sales tax.  But did wallets open up wider than expected?

"We cut back.  We definitely cut back.  Just because we're trying to save a little money," said Alexander.

The parking lots are not as crowded the day after Christmas as expected. Some of the sales analysts in the retail market are changing their forecasts saying sales won't be as high this year as originally anticipated.

There could be a couple of reasons for that like the aftermath of Hurricane Sandy, the less than "Christmas-y" feel following the Newtown tragedy, and concerns over the fiscal cliff.

Growth this year over last varies from less than a percentage point to around 2%, depending on what industry group you listen to.

"I spent a lot more," said shopper Carlos Padro.

"We always spend a little more at Target, it was probably about, a little more. A little bit more, but it's also because we have 20 month old twins, so there is more to buy," said shoppers Jen and Ben Taylor.

Perhaps the threat of wintery weather will spark the need for some comfort spending, or the desire to reward one's self for making it through the holiday season, at the end of a dramatic year.

But with Connecticut still suffering around 9% unemployment, the 2012 shopping tallies may feel a bit cold.

Most people are happy the shopping experience is over.