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Early holiday survey finds retailers bullish
Although it’s only August and the pendulum has plenty of time to swing in the other direction, retailers are feeling optimistic about the upcoming holiday season. That’s according to a report by Fung Global Retail & Technology and First Insight, in which more than 60% of those surveyed said they believe that holiday sales will increase compared to last year, and about 25% expect sales to increase 5% to 10%. -
Report: Back-to-school spending to jump 33%
Shoppers are opening their pocketbooks for back-to-school spending this year. Parents expect to spend an average of $1,642 on back-to-school expenses this year, up significantly from $1,239 in 2015, according to the American Express Spending & Saving Tracker report. Parents are expected to spend more on musical instruments this ($267 vs. $194 in 2015), along with mobile devices ($172 vs. $125 in 2015).