Consumer Attitudes & Behavior

After two years of benefitting from gasoline price tailwinds, still-stressed consumers will generate only a sluggish 3.3% year-over-year increase in this year’s back-to-school sales, according to Customer Growth Partners’ 14th Annual BTS Forecast.    Total BTS sales for the season will reach $540 billion — a new record, but the lackluster 3.3% growth represents a marked slowdown from the 4%-plus BTS growth seen in both 2014 and 2015, when sales were boosted by declining gasoline prices.  

Consumers have spoken, and they have a favorite chain when it comes to buying appliance products.  

As the largest, most diverse generation ever, it’s impossible to predict the full impact millennials will have on the retail landscape.   Unlike their older counterparts, millennials are digital natives with preferences and behaviors continuing to shake up the retail world. This poses a quandary for retailers. In n a highly competitive market, how can they engage millennials without alienating or “creeping out” older consumers?  

Target Corp. is tapping into its consumer base, including kids, to stay on an upward trajectory.

The people have spoken – and they like limits on debit card swipe fees the way they are.  

The National Retail Federation (NRF) is publicly welcoming a ruling striking down the 2012 settlement of a class action lawsuit over Visa and MasterCard’s credit card swipe fees.   The ruling by the U.S. Court of Appeals for the Second Circuit in New York overturns a December 2013 approval of the settlement by U.S. District Court Judge John Gleeson.  

Parents are increasing their back-to-school budgets, although overall spending is stagnant compared to recent years.   According to a new survey of 1,830 U.S. parents of elementary through college students by Mintel, 52% of respondents plan to spend more on back-to-school (BTS) shopping than in 2015. Only 4% plan to spend less, with 44% planning to spend the same. However, overall planned BTS spending dropped to $68 billion in 2015 after ranging from $73 - $76 billion annually from 2010-2014.  

“(I Can’t Get No) Satisfaction” has been the theme song of U.S. consumers for the past two years, but they may need to look for a new anthem.