Anemic back-to-school shopping begins shaky holiday season
Most analysts believe that back-to-school shopping revenue is second only to the year-end holiday season for producing sales. This year, retailers are disappointed by the school-shopping season, at least up to now. Nationwide, average family spending on back-to-school items, not including expenses for college students, is expected to drop from $600 to $550, according to The Tampa Tribune.
While a sharp drop in retail spending during August may not cripple the retail industry and cause store closings, if the problem extends into October and November, the 2009 holiday season could look like a repeat of last year. Retail industry sales were down 2.2 percent last year, marking the worst drop since 1970.