2012 Back-to-School Budgets
The state of the economy is apparently still having an impact on the way consumers are planning their spending, according to Kathy Grannis in an article for National Retail Federation. The article, titled “Consumers Looking to Cut Corners with Their 2012 Back-to-School Budgets”, explains that even though we’ve seen 23 months of consecutive year-over-year retail sales growth, unemployment remains high and consumer spending has slowed.
BIGinsight’s June monthly consumer survey reports that 80.4% of people with school/college age children expect that the economy will curb their spending this year. That’s down from 86.1% from last year.
Consumers are expected to cut costs by curtailing spending on extracurricular activities, re-using articles that are still good, like textbooks, using coupons when shopping, and comparing prices online before buying.
Now, more than ever, it’s important for retailers to get a competitive advantage by making sure that they are up-to-date on the technology that will provide customers with what they need, when they need it.
Are you connecting with your customers to identify who is buying, what is being purchased, and when to send targeted emails to advertise your products? CounterPoint’s CustomerConnect can help you with these important sales functions and many more! Now is the time to get connected and increase your share of back-to-school profits.