Christmas time people, LET’S SHOP!

With the festive season coming close to its end this year, analysts are estimating that the sales have been upbeat and the shoppers are buying things at a fast rate.

The season is as its peak with just one day left to Christmas.

The season got off to a fantastic start this time, with the Thanksgiving week contributing a lot to the sales of many products. But at the same time, the sales for some retail stores were not that good in December. The shopkeepers are hoping that the last week will bring some joy to their faces as well.

The hot selling items this season have been the electronic goods, video game consoles and software’s and flat-screen TVs. Toys are also the hot favorites amongst the children.

Internet sale site eBay said its top seller in the past week had been the Nintendo Wii, with 36,641 sold and followed by the Xbox 360 with 11,054 sales. The Nintendo DS, iPods, and Ugg boots also made the top ten.

This holiday season, "we had projected a 3.6% increase (in dollars spent from a year ago), and we expect that number will be hit and, potentially, could go a little bit higher," said Bill Martin, co-founder of ShopperTrak RCT Corp., which monitors retail sales.

The big companies are coming in with best buy offers as they are luring the customers to buy their products at the prices far less than the normal routine prices. People are also of the view that it's almost kind of worth waiting and shifting through the hustle and bustle.

Many stores are working overtime to give people sufficient time to buy things even after the office hours. Macy's Inc. is keeping several of its stores in the New York metropolitan area, including its flagship store in Herald Square, open until 6 p.m. on Christmas Eve.

A challenging economy, higher gas prices and a housing slump, has also made some shoppers hold off until the final days before the holiday.

Sherif Mityas, partner and central region leader at consultancy A.T. Kearney thinks that the stores have given discounts at the expense of margins, which may lead to overall profits might be less for certain stores. But, they had no other option as their rivals were shelling off prices at a fast rate.

Some retailers loaded up their shelves in anticipation of a last-minute rush. "We have purposely made investments in inventory to have great in-stock positions," said Jim Muehlbauer, interim chief financial officer at electronics merchant Best Buy Co.

"Customers are shopping later and later each year," he said, forecasting "a strong finish to the holiday season."