Flat Spending Predicted on Back-to-School Items
From the Associated Press
The nation’s consumers plan to shop late and spend the same amount for the back-to-school season as they did last year, according to a survey conducted by NPD Group Inc., a market research firm.
Though mass merchants are poised to be the top destination for spending, department stores, which have been undergoing consolidation, and footwear retailers are gaining some ground, NPD reported.
The survey of about 40,000 consumers found that 47% said they expected to spend less than $250 a child this year, 28% plan to spend $251 to $500 and 7% anticipate spending more than $1,000.
