Boost for Back-to-School Sales

The back-to-school supply sales this year have been the fastest growing in four years. This is the second most important season for retailers, after the Thanksgiving season, and the back to school period spans from July to September. It includes clothes, shoes, electronics, backpacks and more.

The good weather has also helped to bring shoppers into the stores, rather than just to online superstores like Amazon.  The total back-to-school sales rose 2% in July, as compared to the 1% growth in 2015 and 2014 according to payment technology company First Data.

The prediction is that back-to-school and college spending will get to $75.8 billion this year according to retail association National Retail Federation’s survey each year.

Interestingly, schools have been asking students to save their work on USB drives, and this has boosted the sale for small devices. Best Buy has been tempting students with special coupons for laptops, headphones, small refrigerators and more. J.C. Penny has also done many promotions just as their “Penney Day” which offers many back-to-school staples at discounts on Saturday during the season.

It’s interesting to note that customers are flocking to the less expensive stores, rather than looking for the fancier name brands. As RBC Capital Markets analyst Brian Tunick explained, stores like Old Navy, TJ Maxx and Kohl’s are the top picks for 2016.