We're now entering peak back-to-school shopping season, but in the year of the coronavirus pandemic, many parents are holding off, not sure their children will even set foot in their schools this fall.
It’s a time when stores are normally packed as parents check off their child’s school supply lists, but these are not normal times.
With many schools already planning for online learning this September, there's no need to buy lots of new school clothing or even backpacks.
However, it turns out learning at home may actually boost sales, according to the National Retail Federation. It says parents will be buying more laptop, desktop computers and iPads than ever before.
The result: shopping is expected to be 3 to 5 percent higher than last year.
Good for online business, but bad news for brick and mortar retailers.
The Retail Federation says online sales will soar this school year as families avoid going to the mall. Forty-five percent of shoppers plan to do more online shopping this year. That means if you like to browse the mall for school shopping, you'll find fewer stores open and much less merchandise on those store shelves when you get there.
Need a trip to the apple store? Thirty percent of them are closed, and the open ones won’t let you play with the displays anymore.
If stores find school clothing and merchandise not moving by the middle of August, shoppers can expect huge markdowns later.
As always, don't waste your money.
----------------------------
Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
Like" John Matarese Money on Facebook
Follow John on Twitter (@JohnMatarese)
MORE CONSUMER NEWS
Great news if you watch TV with an antenna
KHOU has just upgraded its technology. If you were unable to receive KHOU with your antenna in the past, try again on channel 11.11. You may have to rescan your channels for it to work – if that’s the case, we’ve got some instructions at KHOU.com/antenna. If you already see KHOU on 11.1, you may now ALSO see it on 11.11 – it’s the exact same programming. We’re really excited to be able to bring our KHOU 11 News, CBS shows and sports, Wheel of Fortune, Ellen and Great Day Houston to more homes around the area. If you’re still having trouble, please contact us here and we’ll try to get you set up.