Toymakers bet on last minute shoppers during Christmas season

(CNN) - With the busiest shopping weekend of the year underway, some toy retailers say they may need a Christmas miracle.

The $39 billion U.S. toy industry logs about half of its annual sales in the weeks leading up to Christmas.

But so far sales are down three percent similar to last year, and stores worry they have too much inventory.

With rising costs, it appears consumers are budgeting more carefully for the holiday season this year.

America's two largest toy companies, Hasbro and Mattel, are counting on last-minute shopping to help their bottom line.

Some retail experts predict many consumers will put off their toy purchases until the last ten days before the holiday.

They hope that parents will want to ensure there are presents for the kids under the tree despite the economic downturn.