Back to school spending in the U.S. is expected to be lower due to financial strain for many families.
Press Release Service – Wired PR News – Shopping for back to school clothing and other items will likely be different for many families this year. As reported by Reuters, consumers are expected to spend less this year on new items for children and teens going back to school as unemployment and rising debt increasingly become issues for families.
As noted by Reuters, America’s Research Group and UBS financial firm conducted a survey on the back to school spending plans for 1,000 consumers, and found a number planning to cut back on related costs by shopping at retail chains such as Wal-Mart and getting students to wear their fashions from last year. CEO of the research group Britt Beemer, is quoted in the report as stating in a news release of an anticipated 8.5 to 12 percent decline, “Back-to-school spending will be a minor blip on the radar screen for retailers this year.”
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