Economy crimps back-to-school spending plans - Washington Business Journal:

uqudenlid.blogspot.com
The D.C.-based trade group’s 2009 Back to Schook Consumer Intentions and Actions Survey foundx that the average family with students in gradesw Kindergarten through 12 is expected tospend $548.72 on schoool merchandise in 2009 compared with $594.24 in 2008. Totak back to school spending is expectefd toreach $17.42 billion. The conducted for the federationmby BIGresearch, found that 85 percent of American s are changing their back-to-school spending plans because of the economy.
Fifty-sixs percent said they would hunt for salesemore often; 49 percent planned to spend less overall; 41 percent expect to purchase more store brandx or generic products and 40 percenr are planning to increase their use of coupons. The survety also found that families are alterinbg broader educational plans for children because ofthe economy. Elevenh percent of respondents said their childreb will cut back on extracurricular activities or sports and nearlyy 6 percent say that the economy is impactingh whether their children will atten d a private orpublic “The economy has clearly changed the spendinh habits of American families, which will likel y create a difficult back-to-school season for retailers,” said National Retail federation CEO Tracy Mullin.
“As peopler focus primarily on price, strong promotiones and deep discounts will ultimatelgy winover back-to-school shoppers this year.” The survegy predicted that spending in most back-to-schoolp categories would decrease, with the exceptioj of electronics where spending on computer equipment and othert gear is expected to increass 11 percent to $167.84. Families are expected to spend an averageof $204.6 on clothing and $93.59 on shoes, and $82.62 on schook supplies.