Study: Decrease in back-to-school spending expected

NEW YORK Consumers plan to cut back on back-to-school spending due to higher costs of food and gas. According to a Deloitte survey, 71% of respondents said they plan to spend less on back-to-school items this year. Almost half (48%) plan to reduce their household spending by more than $100.

The survey results indicate that, this year, the vast majority of consumers (88%) will do their back-to-school shopping at discount/value department stores. Almost four in 10 (37%) will shop at dollar stores, and almost one-third (32%) will shop at office supply/computer stores.