“There is a silver lining here, the consumer is telling us they are going to spend it is just less and in new places if need be,” said Marshal Cohen, chief industry analyst, The NPD Group, Inc.
(PRWEB) July 21, 2011
The NPD Group, Inc., a leading market research company, released some additional results from its annual back-to-school study of consumers’ purchasing intentions for the 2011 season.
See Chart: How Much Do You Plan on Spending for
the Back-To-School Season?
When asked how much they plan to spend for back-to-school this season the majority of survey respondents (66.6 percent) told NPD they plan to spend $250 or less. That is an increase of seven points over last year. This is an indication that consumers are starting out the season planning to spend less money than last year. The number of consumers that plan to spend over $750 dollars remained the same as last year.
“Again, here is an indication that the consumer is approaching this season in a more cautious frame of mind with more consumers saying they plan to spend less,’ said Marshal Cohen, chief industry analyst, The NPD Group, Inc., “There is a silver lining here, the consumer is telling us they are going to spend it is just less and in new places if need be.”
Consumers were also asked about their plans to shop for back-to-school online this year. Sixteen percent of consumers say they plan to shop online, last year almost 18 percent said they had plans to shop online.
“Even though consumers say they will spend less online this year, I think the lateness of shopping coupled with the value-centric mindset will drive more consumers to shop there,” said Cohen, “Online will be the place can find those back-to-school items no longer available in stores.”
Methodology: The results of this study were based on a poll of 12,000 members of The NPD Group, Inc.’s consumer panel. The survey was administered from July 1st to July 13th, 2011.
Annual 2011 Back-to-School Spending Intentions #1:
About The NPD Group, Inc.
The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,800 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, commercial technology, consumer technology, entertainment, fashion, food and beverage, foodservice, home, office supplies, software, sports, toys, and wireless. For more information, visit http://www.npd.com/, or follow us Twitter at twitter.com/marshalcohen and twitter.com/npdfashion. Become a fan of Marshal Cohen at http://www.facebook.com/npdmarshalcohen and watch more on NPD’s YouTube channel.
The NPD Group, Inc.