California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.
                               
The National Retail Federation has released their forecast for back to school spending
this year.  According to their survey families with school age children are expected to
spend $594.24 on back to school merchandise up from $563.49.  The total back to school
spending this year is expected to reach $20.1 billion up from $18.4 billion.

According to the survey, most all categories spending will remain flat from last year, except
for the electronics category which will see the largest increase in sales from last year. 
Footwear will also see a higher than average increase with sales to exceed last year’s by
10 percent.

The downturn in the economy has forced retailers to start promotions earlier and continue
longer sales periods even extending beyond the first day of school.

I am Tim Johnson and this has been the California Business Minute.

For further information see www.nrf.com