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NPD: Last-minute back-to-school spending on the rise

BY Gail Hoffer

Port Washington, N.Y. — Once again, consumers are putting off back-to-school shopping until the last minute, but retailers can take solace in the fact that they intend to spend more this year.

According to NPD’s survey, 31% of respondents said they plan to spend more this year, compared with 22% who made that claim in 2011. The number of consumers who plan to spend less went from 38% in 2011 to 24% this year, while those who plan to spend the same rose from 40% to 46%.

When it comes to when they plan to shop, the numbers were essentially the same from 2011 to 2012. This year, 37% shoppers said they will finish their back-to-school shopping by Aug. 1 compared with 38% from the year before. This year, 58% of consumers plan to have their shopping done by Sept. 1, compared with 57% for the prior year.

“Retailers should plan to see a rise in sales when the temperature drops,” said Marshal Cohen, chief industry analyst, The NPD Group. “The summer heat wave in much of the country is a possible contributor to the delay in back-to-school shopping.”

Where consumers spend their money this year has shifted, with the bulk of the spending to be done at department stores (26% of those surveyed), followed by footwear specialty stores (25%) and online (16%).

“There will be waves of sales growth – in the early stages, school supplies and electronics will do well," said Cohen. "And when school is back in session apparel and footwear will show some true promise, driving shoppers to department, sporting goods, and specialty stores."

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azee1122 says:
Jan-09-2013 09:42 am

Thanks for the valuable information and insights you have so provided here... mahjong

azee1122 says:
Jan-09-2013 09:42 am

Thanks for the valuable information and insights you have so provided here... mahjong

J.Jay111 says:
Nov-03-2012 02:40 pm

I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. Thanks... machineasous-fr.net

J.Jay111 says:
Nov-03-2012 02:40 pm

I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. Thanks... machineasous-fr.net

M.Manu says:
Jul-26-2012 09:11 am

Informative article. I work for McGladrey and there's a white paper on Retail on the website ( http://bit.ly/JDHmUU ) that describes current trends in US retail sector with insights from industry experts.

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Barnes & Noble CEO paid $10 million in 2011

BY Katherine Boccaccio

New York — Barnes & Noble CEO William Lynch was compensated $10 million in 2011, compared to $1.6 million in 2010, according to a report by the Associated Press.

The difference is due to a large stock option grant, reported AP, as Barnes & Noble compensated Lynch for expanding the retailer’s digital business. However, an SEC filing revealed the retailer planned to pay Lynch double the $5.3 million in stock options it granted, but found it couldn’t due to its 2009 incentive plan rules.

Lynch was paid a base salary of $1.1 million, up 22% from his base salary of $900,000 last year. He received a $450,000 bonus and other compensation of $32,750 for insurance and retirement payments, a car allowance and relocation costs. His stock awards were worth $3.1 million and stock options were worth $5.3 million.

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Peet’s Coffee & Tea going private for $977.6 million

BY Katherine Boccaccio

Emeryville, Calif. — Coffee retailer Peet’s Coffee & Tea said it is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser – a minority stakeholder in an international coffee and tea company D.E. Master Blenders 1753 – will reportedly pay a premium $73.50 per share, putting the deal’s total value at nearly $1 billion.

The current management and employees will remain with Peet’s, and its headquarters will stay in Emeryville, Calif. The acquisition, unanimously approved by Peet’s board, is expected to close in about three months.

Privately held Benckiser is the majority owner of Coty, and also owns Labelux, a luxury goods company with brands such as Jimmy Choo, Bally and Belstaff.

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