At Taubman's International Plaza in Tampa, Fla., approximately 25 percent of the transactions Wednesday were off gift cards, few returns were noticed and hot sellers were computers, the iPhone, games and apparel.

Price cutting, however, is what really set the tone nationwide. Unfurling a fresh round of cuts the day after Christmas has become an industry standard. Retailers run clearances to get fall goods off the shelves and make room for spring receipts, and hope to end the year with a final surge. This year, in particular, they could use a lift after experiencing a season of small gains at best, with the exception of last weekend and Thanksgiving weekend when business was robust.

Among the plethora of retailers unfurling discounts, Saks Fifth Avenue promoted up to 70 percent off designer labels, including a Carolina Herrera laser-cut wool top marked down to $866.95 from $2,890; an Ermenegildo Zegna brushed cotton men's pant marked down to $121.45 from $325, and Dolce & Gabbana men's Ts marked down to $53.95 from $145.

Vivre, the luxury catalogue and Web site, advertised a winter sale of 40 percent off on items from such designers as Oscar de la Renta, Vera Wang, Michael Kors and Roberto Cavalli. In The New York Times, Lord & Taylor advertised 50 percent off much already-reduced merchandise, and Bloomingdale's advertised total savings of 60 to 80 percent off certain fashion in the New View, Y.E.S. and Sutton departments.

On the mass level, Lilian Vernon offered 25 to 85 percent off many products. At Target, intensified discounting was cited by Standard & Poor's. "We anticipate higher markdowns on clothing and home categories in current quarter and believe a projected slowdown in consumer spending will further skew sales toward lower-margin merchandise categories next year," S&P said in a report. S&P said Target sees December same-store sales between 1 percent up and 1 percent down, below a prior 3 to 5 percent growth estimate. As a result, S&P cut its fiscal '08 estimate by six cents to $3.35 and fiscal '09 estimate by 25 cents to $3.85.

On the other hand, Amazon.com proclaimed the 2007 holiday season its best ever, with its busiest day being Dec. 10. "On that day, Amazon customers ordered more than 5.4 million items, which is 62.5 items per second," the company said. In apparel and accessories, Amazon's top sellers included Kenneth Cole Reaction men's Eden wool peacoat, Gruppo Italiano women's cashmere-lined leather gloves and Red Moon women's long-sleeve cashmere turtleneck.