Friday, July 27, 2012
The back to school shopping season could be a critical indicator about the health of the Southern California Economy. Early forecasts predict a season of flat sales.
SAN DIEGO The US Census Bureau says back to school shoppers will spend $7.7 billion shopping for back to school items. Back to school sales totals could help signal whether the economy is getting better, worse, or staying the same.
The National Retail Federation predicted shoppers will probably end up holding the line on spending.
"We've been in this recession now for several years," said Lisa Haddock, a lecturer at the San Diego State University School of Business. " And parents are going to be doing their homework when it comes to back to school shopping. They're going to practice restraint. They're going to delay their purchases.
The back to school season is the second most important retail season of the year after the holiday season, according to Haddock. If end of summer sales are brisk, that usually bodes well for holiday spending.