Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Lower Gas Prices, Higher Wages Boost Back-To-School Spending

Lower Gas Prices, Higher Wages Boost Back-To-School Spending

  • Categories Retail News
  • Date September 5, 2016
  • Comments 0 comment

As parents start their back-to-school and back-to-college shopping, retailers should be ready with well-stocked shelves, says Deborah Weinswig, head of Fung Global Retail and Technology.

“We expect sales to reach near-record levels — up 2-3%,” says Weinswig, who is also a FORBES contributor. “There are more kids in school, and parents plan to shop earlier.”

“There’s wage growth and a good labor market.” The unemployment rate has dropped to 4.9% as wages have grown by 2.6%.

Add to that picture average U.S. gas prices of $2.15 per gallon — versus $2.63 this time last year — and shoppers simply have a little more in their wallets to spend.

Retailers are likely to enjoy an 8.1% increase in spending on clothing, 7.6% more on shoes and a healthy 10.3% boost on school supplies, she says.

“We’re seeing a very different mindset. The consumer is feeling stronger and better.”

They’ll also be buying electronics, spending, on average $107 for phones, laptops and tablets — a 10.3% jump.

“There’s generally a much more positive outlook for back-to-school,” says Weinswig, thanks to three key retail trends ” “localization, customization and personalization.”

Mobile shopping continues to grow as consumers “want to know where to shop. The geo-location is much better.” While a third of back-to-school shopping is done on-line, 70-80% of it is completed in-store.

From Forbes

  • Share:
gsiino

Previous post

Why The Apple Store Is Changing Its Name
September 5, 2016

Next post

Can edible packaging help solve retail’s eco problem?
September 5, 2016

You may also like

Senza-titolo-2
Co-op extends robot deliveries to Bedford
25 July, 2022
amazon-health
Health deal shows how Amazon keeps ahead of regulators and rivals
22 July, 2022
walmart
Retail Media Arms for Walmart and Kohl’s Get Major Boost
22 July, 2022

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Mango Teen opens new store in Barcelona
27Jul2022
Crypto project Solana is opening a store in NYC. Take a look inside
27Jul2022
Co-op extends robot deliveries to Bedford
25Jul2022
Health deal shows how Amazon keeps ahead of regulators and rivals
22Jul2022
Retail Media Arms for Walmart and Kohl’s Get Major Boost
22Jul2022

Twitter:

GRA_World Follow

An association made up and dedicated to the retail industry world's leading companies. Become a member today!

Gra_World
Retweet on Twitter GRA_World Retweeted
meshaalbomairh Meshaal Bin Omairh @meshaalbomairh ·
19 May

Very happy to announce that I am now a member of the GRA, one of the world’s most important associations for #retail industry leaders.
يسعدني جدًا أن أعلن أنني أصبحت عضوًا في GRA ، وهي واحدة من أهم الجمعيات في العالم لقادة صناعة البيع بالتجزئة: https://twitter.com/Gra_World/status/1526975525411033089

gra_world GRA_World @gra_world ·
20 May

🚀Los invitamos al próximo #webinar #GRA donde un panel de líderes de #Latinoamerica van a compartir tendencias, experiencia y el futuro de #Marketplaces✍🏻: https://bit.ly/3yNggfI

Load More...

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy