NEW YORK (Reuters) — Investors hoping for a last-minute shopping rush to boost retail companies’ profits will likely be disappointed, analysts say, after a slew of data and mall trips suggest merely average holiday consumer spending.Three-quarters of shoppers surveyed by America’s Research Group said they have completely finished or are nearly done with their holiday shopping — up from 67.3 percent at this point last year.

That could be a letdown for investors who had hoped lower energy prices, higher employment and a rush of last-minute present buying would boost retail sales and profits.

“It’ll go down as a perfectly okay holiday season,” said Shawn Kravetz, president at hedge fund Esplanade Capital in Boston, adding that store discounts have picked up relative to last year and could suggest that companies are trying to move more unsold merchandise. Holiday sales can have a material impact on an array of retailers, including jewelry maker Tiffany & Co. and discount department store Target Corp.