Back-to-School Shopper Holdouts Waiting for Discounts: NPD
Anticipation of promotional discounting is the top reason back-to-school shoppers are waiting to get started, reported NPD Monday. Rising prices and consumers shopping for more immediate needs “disrupted early back-to-school shopping season performance,” said NPD. In the first seven weeks…
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of the back-to-school shopping season, U.S. non-school-related general merchandise sales revenue grew 4%, while school spending fell short of last year’s results, it said. “Consumers are balancing their return to school, work, and social activities, while retaining some pandemic-related behaviors, and prioritizing their purchases accordingly,” said Marshal Cohen, NPD chief retail industry adviser. “Consumers have been more focused on travel and social activities this summer, pushing the 2022 back-to-school shopping peak later.”