Retailers, take notes. American families are putting off their back-to-school shopping in an effort to make sure they’re getting the best deals.
Marshal Cohen, chief industry analyst with the NPD Group, told msnbc.com, “The consumer is not in any rush.”
An earnings call from Walmart indicated more shoppers are making their school supply purchases closer to their schools’ start dates. The National Retail Federation also predicted a quarter of school shoppers won’t begin their back-to-school shopping until one or two weeks before school begins. In some cases, families may even put the shopping off until later in the fall after seeing what’s in style and what students really need.
Still, the National Retail Federation predicts American families will eventually spend more on back-to-school supplies and clothes than last year. Back-to-college spending should remain about the same.
Meanwhile, retailers are offering deals for the customers now. Abercrombie & Fitch’s jeans are currently 40 percent off, Target is offering free shipping on $50 online purchases and Amazon.com has bargains on coffee makers, printers, microwaves and textbooks for college students.
