More than a third of U.S. consumers said they plan to cut back on other spending in order to be able to shop for back-to-school items due to ongoing inflation concerns, according to the annual survey from Prosper Insights & Analytics commissioned by the National Retail Federation. More than half had started shopping as of early July.
The back-to-school season might have helped boost retail sales, according to the National Retail Federation, as clothing, sporting goods, and books saw an increase in July.
A new survey has revealed that shoppers will have their eyes on back-to-school deals this summer shopping season. According to the survey conducted by PriceGrabber, results also indicate that 68% of consumers plan to spend up to $500 this season compared up from 63% in 2012.