Shoppers expected to spend $34B on Saturday before Christmas
Super Saturday shoppers are expected to spend about $34 billion
U.S. shoppers are expected to spend more on the Saturday before Christmas than they spent on Black Friday this year, according to Craig Johnson, president of retail consultant Consumer Growth Partners.
The Saturday known as Super Saturday is expected to draw crowds of last-minute shoppers who are expected to spend about $34 billion compared to the $31.5 billion they spent on Black Friday, Johnson told Reuters.
"Consumer demand remains strong," Johnson told the outlet. "While mall traffic is weak, those that are going to stores are buying more."
Consumer Growth Partners did not immediately respond to FOX Business's request for comment.
Consumer confidence has seen a boost this year as a result of a strong market and higher wages, Reuters reported, citing retail consultants and analysts. Some retailers were worried that U.S. tariffs on Chinese goods would be reflected in costs for toys, electronics and other items manufactured in China and sold by U.S. businesses.
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Trade experts have argued that the burden of tariffs falls not on the Chinese government but American consumers as businesses struggle to make enough profit without raising prices too much.
In this Tuesday, Nov. 5, 2019, photo shoppers browse the Holiday Lane section at the Macy's flagship store, in New York. (AP Photo/Richard Drew)
President Trump originally suspended 15 percent tariffs on Chinese goods set to be implemented in September to Dec. 15 to make spending easier on consumers during this year's short holiday shopping season.
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After the two countries reached the first phase of a tentative trade agreement last week, however, the president decided not to implement the Dec. 15 tariffs.
"The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you!" Trump tweeted on Dec. 13.