Posted: 6:00 pm Tuesday, July 21st, 2009
By Allison Ross
Last week, I wrote a story about a survey from the National Retail Federation that found that shoppers are expected to spend 7.7 percent less on back-to-school shopping this year.
Today, a survey came out from America’s Research Group that mirrors that gloomy retail prediction. It found that 34.4 percent of parents plan to spend less this year compared to last because they have “less money” (41.8%), “higher debt” (40.5%) and fear losing their jobs (8.2%).
“Back-to-school spending will be a minor blip on the radar screen for retailers this year,” consumer trend expert C. Britt Beemer, CEO and Founder of ARG, said in a statement. He predicted that back-to-school spending will drop 8.5 to 12 percent compared to a year ago, when back-to-school sales declined more than 5 percent.
Boca Raton-based office supplies retailer Office Depot closed down 4 percent at $4.52.
Today (Tuesday) was also the day that Office Depot launched a 3-day back-to-school supply special where, with a $10 minimum purchase, consumers can get free 1″ Back to School Binders, Sharpie Accent Highlighters, Papermate Expressions Ballpoint Pens, and 6pk Wide Ruled Spiral notebooks with a mail-in rebate.
By the way, if you’ve begun shopping for your back-to-school supplies already and are looking for other ways to save money, thrift stores are also launching back-to-school promotions.
Know of any good deals or promotions for back-to-school? Share the knowledge and post a comment on the blog!