Retail Newsbites To Go
Educational economy. Families with school-age children are expected to spend $563.49 on back-to-school merchandise this year, up 6.9% from last year’s $527.08 average, according to the National Retail Federation’s 2007 Consumer Intentions and Actions Back-to-School survey, conducted by BIGresearch,. Total back-to-school spending this year is expected to reach $18.4 billion. The electronics category will see the biggest increase in sales, with families spending 13% more than last year ($129.24 vs. $114.38). Footwear will also see a higher-than-average sales increase, with sales expected to rise 10.3% over last year ($108.42 vs. $98.34). Families are also expected to spend $94.02 on school supplies, up from $86.22 a year ago.
Tween alert. Young actress Amanda Bynes has launched dear, a line of clothing, accessories, and footwear with casual apparel retailer Steve & Barry’s. Bynes, starred in “What a Girl Wants,” “She’s the Man” and “Hairspray. “Steve & Barry’s is known for keeping every item priced at $19.98 or below. For details, visit http://www.dearbyamanda.com.
God save the shops. The British Retail Consortium reports that retail sales in Central London last month were 11.6% higher than a year earlier, on a like-for-like basis, a good gain on top of the 15.1% year-on-year increase in July 2006, when sales were recovering from the July 2005 bombings. Visitor numbers to the city were higher than a year ago. The usual summer increase in visits by Middle Eastern tourist shoppers shifted the lead from Western Europeans as the main spenders.
School daze. Maybe kids don’t mind going back to school after all. Or at least, they don’t mind the shopping that goes with it. A new survey by Staples reports that more than 80% of teens do their back-to-school shopping before classes begin, and two-third hit the stores a month before their first day back. Only 7% shop the weekend after school starts. Some 92% of students say they select their own supplies. The must-have items this year? Notebooks and planners.
