Of the one
in five parents who plan to spend less on back-to-school, higher
gas prices have jumped to 24.7% this year from 9.5% last year as
the main reason for this cut back.
Britt Beemer, CEO, America’s
Nearly half of parents with school
age children (48%) are trying to hold back their children’s
back-to-school spending, according to a study by
Research Group (ARG). Of the one in five parents who
definitely plan to spend less on back-to-school this season,
higher gas prices have jumped to 24.7% this year from 9.5% last
year as the main reason for this cut back.
"Consumers attitudes about back-to-school are further indication
that American shoppers are not feeling really confident," said
C. Britt Beemer, founder and CEO of ARG. "Those retailers that
are first to offer the best prices will be the winners with
parents," he predicts.
Wal-Mart is still the #1 store to shop for back-to-school items.
One in five (20.5%) state they will go to Wal-Mart while one in
four (25.1%) have not yet decided where to shop this year. The
number of parents willing to buy their children’s clothing at
full retail-price levels has fallen to an all-time low with only
3.2% this year down from 36.9% in 2001.
Children will have some say in the matter. According to Beemer,
close to half of parents (46.4%) say they will allow their
children to have more influence on back-to-school spending
levels, compared with 44.4% a year ago. Over 90% of parents say
that their children will accompany them when they shop.
Back-to-school spending levels will be up only modestly, in the
2% to 4% range. Beemer projects the final store sales level at
The Consumer Mind Reader survey of 1,004 adults was conducted
from July 3 to July 7, 2006.
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