{"id":469273,"date":"2022-06-30T22:17:50","date_gmt":"2022-06-30T19:17:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/back-to-school-spending-expected-to-plunge-amid-inflation\/"},"modified":"2022-06-30T22:17:50","modified_gmt":"2022-06-30T19:17:50","slug":"back-to-school-spending-expected-to-plunge-amid-inflation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/back-to-school-spending-expected-to-plunge-amid-inflation\/","title":{"rendered":"#Back-to-school spending expected to plunge amid inflation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29109e6d6d8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29109e6d6d8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/back-to-school-spending-expected-to-plunge-amid-inflation\/#%E2%80%9CBack-to-school_spending_expected_to_plunge_amid_inflation%E2%80%9D\" >&#8220;Back-to-school spending expected to plunge amid inflation&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBack-to-school_spending_expected_to_plunge_amid_inflation%E2%80%9D\"><\/span>&#8220;Back-to-school spending expected to plunge amid inflation&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Retailers banking on strong back-to-school sales will feel the pinch this summer as str<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed consumers are on track to sharply curtail their shopping sprees, according to new research.<\/p>\n<p>The critical back-to-school shopping season, which kicks off after July 4 weekend, will grow by 5.5% this year, compared to the torrid 13.1% growth in 2021, according to forecasting research from consulting firm, Customer Growth Partners.\u00a0<\/p>\n<p>\u201cWe can tell momentum weakened in May and June,\u201d said CGP president Craig Johnson, \u201cbut if it slides any further we could see growth of between 2% and 3%\u201d for back to school.\u201d<\/p>\n<p>Such low growth would be an ominous sign of a feared recession as consumers feel the sting of the highest inflation rate in 41 years. <\/p>\n<p>\u201cA recession is not a slam dunk, but if consumer spending is down in July and August during the back-to-school season, that\u2019s a clear red light instead of a blinking yellow light,\u201d Johnson told The Post.<\/p>\n<p>Over the past 20 years, back-to-school sales have grown on average by 4.5%, according to CGP data.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-1.jpg?w=1024\" alt=\"A school supplies aisle in a store.\" class=\"wp-image-22869697\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Consumers began pulling back in March when spending sputtered.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The expected 5.5% growth is \u201cnothing to sneeze at,\u201d Johnson said, \u201cbut it\u2019s clearly a deceleration from 2021.\u201d<\/p>\n<p>The slowdown in consumer spending began in March, he added, with the growth rate dialed back to a 7% \u2014 compared to 11% in 2021.<\/p>\n<p>Last year, shoppers were flush with cash from stimulus money and had been cooped up by lockdowns after spending the previous year mostly attending school remotely.<\/p>\n<p>But spiking energy prices, declining federal stimulus, rising interest rates, supply chain disruptions and falling personal savings are all taking a toll, especially on lower income families.<\/p>\n<p>\u201cFor consumers, 9% inflation has been an unvarnished disaster, eroding real incomes since wages and salaries are up barely 5% \u2014 with the inflation \u201ctax\u201d falling most heavily on lower-income and fixed-income households,\u201d Johnson said.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-2.jpg?w=1024\" alt=\"A wall of $1 items.\" class=\"wp-image-22869740\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Consumers are not buying electronics this year as they stocked up on devices during the height of the pandemic.<\/figcaption><figcaption><span class=\"credit\">Jeff Greenberg\/Universal Images<\/span><\/figcaption><\/figure>\n<p>Consumers are expected to invest in their wardrobes this summer, with spending on apparel expected to rise by 5.9% \u2014 compared with the whopping 33% growth rate last year when schools and businesses were opening up again. <\/p>\n<p>But spending on electronics is expected to decline by 4% as most shoppers stocked up on devices during the height of the pandemic when many worked or attended classes remotely.\u00a0<\/p>\n<p>Target chief executive Brian Cornell said this month that he will be closely monitoring consumer spending during the Fourth of July holiday weekend \u2013 how far consumers are willing to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> and how much they spend on food \u2013 as a gauge of the health of consumer.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-sale-books.jpg?w=1024\" alt=\"Books and pencils on a desk.\" class=\"wp-image-22869781\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-sale-books.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-sale-books.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-sale-books.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Back-school-spending grew by 13.1% last year compared with an expected growth rate of 5.5% this year, according to new data.<\/figcaption><figcaption><span class=\"credit\">Getty Images\/iStockphoto<\/span><\/figcaption><\/figure>\n<p>\u201cJuly 4th weekend will be really important,\u201d Cornell said during a presentation to the Economic Club of New York.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/30\/back-to-school-spending-expected-to-plunge-amid-inflation\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Back-to-school spending expected to plunge amid inflation&#8221; Retailers banking on strong back-to-school sales will feel the pinch this summer as strapped consumers are on track to sharply curtail their shopping sprees, according to new research. The critical back-to-school shopping season, which kicks off after July 4 weekend, will grow by 5.5% this year, compared to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":469274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/back-to-school-shopping-supplies-comp.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[130853,70999,74694,70551,91261,5015],"class_list":["post-469273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-30-22","tag-back-to-school","tag-consumer-spending","tag-inflation","tag-recession","tag-retailers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/469273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=469273"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/469273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/469274"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=469273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=469273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=469273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}