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Consumers Cut Back on Back-To-School Spending
Aug 19, 2009
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Consumer small appliance purchasing intentions during back-to-school shopping dropped 1% and electronics dropped 4%.

Consumers in the United States will generally continue to slow their spending for back-to-school 2009 but the decrease won’t be as big as in 2008. Market research company NPD Group, Inc., reports consumers "aren’t in a hurry to shop" and, as of July 2009, there was a 5% drop in consumers saying they either "haven’t started" or "don’t plan to shop" for back-to-school as of July 2009.

“While this 5 percent drop is not a huge drop, it’s enough of a shift to show us that there is no real rush by consumers to shop, even with the deep discounts being offered early in the season,” said Marshal Cohen, NPD chief industry analyst.

Consumers plan to spend less for back-to-school this year.

-44% of consumers say they plan to spend less for back-to-school, compared to 35% in 2008.
-32% say they plan to spend the same (compared to 34% in 2008).
-23% say they plan to spend more (compared to 31% in 2008).

NPD also reports consumers shift their back-to-school spending priorities. While footwear and apparel purchasing intentions were down substantially, decreases in intentions to purchase appliances and electronics were less dramatic:

Electronics purchasing intentions (PCs, laptops, PDAs, printers, cell phones, MP3 players, and digital cameras): 30% in 2009/34% in 2008.

Small appliances: 6% in 2009/7% in 2008.

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