Report: Back to School Sales to Increase

According to 2010 sales forecasts, retailers should expect an increase in back-to-school season sales. The International Council of Shopping Centers (ICSC) has predicted a sales increase of 5.4 percent for mid-July through mid-September, as opposed to the decline by .4 percent and 2.8 percent in 2008 and 2009, respectively. ICSC predicts that family clothing will have the strongest increase, at 6.5 percent, followed by electronics at 5 percent.

Additionally, the National Retail Federation’s 2010 Consumer Intentions and Actions Back to School survey, conducted by BIGresearch, found that the average American family will spend $606.40 on clothes, shoes, supplies, and electronics, compared to $548.72 last year and $594.24 in 2008. Total spending on school-aged children is expected to reach $21.35 billion.

The survey also found that spending on clothing, shoes, and electronics will take up the majority of consumer’s budgets, with 44.3 percent of consumers planning to spend more on store or generic brands. Additionally, the survey reported that teenagers are expected to spend slightly more of their own money on back to school items, $31.74 this year compared to $30.88 last year.