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Pennsylvania Retail Insurance: Back to School Spending Down

Pennsylvania Retail Insurance: Back to School Spending DownPennsylvania Retail Insurance: Back to School Spending Down

The latest shopping trends are not looking good for retailers counting on back-to-school campaigns. Many children, teens and parents are delaying the traditional back to school purchases. This post is brought to you by Pennsylvania retail insurance programs.

According to the National Retail Foundation, Back-to-school spending was expected to grow in the largest boost since the recession. But many are delaying it, for several reasons. Some want to wait and see what their classmates are wearing before they make their purchase decisions. Older students especially seem to be waiting until at least after Labor Day, cautious lest they make any fashion error. The difficulty of economic times is always a factor, and some analysts have even attributed it to the unusually hot weather.

According to the New York Times, the consequences could be serious if sales don’t rebound. The back-to-school shopping spree is the busiest time of the year other than the winter holidays. Beyond the extensive profits, back-to-school provides a barometer of what is popular to help retailers prepare for the holidays.

The postponed sales frenzy is also complicating how stores function. Some have had to alter how they stock, promote, and sell their back-to-school items, some of which have been on the shelves for almost two months. As of August, a survey by the National Retail Federation found less than 8% had completed their back-to-school shopping, the lowest figure in four years.

Retailers are responding to the lag in multiple ways. Some are extending sales longer to attract the late season customers. Others are rethinking their back-to-school time, and others are introducing new styles later, in early September.

At Dryfoos, we can cover your retail business against the unexpected. Our Pennsylvania retail insurance services include the forward-looking plans your business needs. Contact us today for more information about our Pennsylvania Retail Insurance programs.

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