As supply companies watch the back-to-school purchase season end with slow sales, the National Retail Federation has said that less than 1/2 of consumers have made all of their back-to-school purchases.
The NRF said its survey is in step with retailers’ comments during second-quarter earnings calls about how people are buying closer to need as the economy has weakened.
“The good news is there is still a lot of shopping to be done, even if people are headed to the sales racks,” said Kathy Grannis, spokeswoman for the NRF. “Families may be buying on a budget and buying only what is necessary.”
Typically it is expected that $21.4 billion will be spent on supplies, clothing and electronic devices for children in grades K through 12.
This year, more than any previous year, consumers will be buying online. This goes with the typical trending towards online sales as well as the addition of online capabilities of many supply companies.
Retailers are ready for what may come, although they have been ordering merchandise cautiously. Target Corp. (TGT) is focusing on value, with initial results for back-to-school and back-to-college “encouraging,” said Target merchandising chief Kathee Tesija during the retailer’s earnings call Wednesday.
The back-to-school buying season generally runs from July through Labor Day, which this year is Sept. 6.
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