Parents subtract from back-to-school budget
Students heading back to school in a few weeks may sport the same clothes as last year and carry lighter backpacks.
Back-to-school supplies and styles aren't ranking as high on many families' shopping lists this year, with nearly three in 10 parents saying they'll spend less this fall than last, according to an America Research Group survey.
About 45 percent of the respondents say they must cut back because they have "less money."
About half of parents will buy only the necessary minimum, supplementing those purchases later during the Christmas shopping season.
Much like the nerves kids feel getting on the school bus at the end of August, parents are faced with worry as well. Socked with $4-per-gallon gas, spiking food costs, declining home values and rising electrical prices, consumers are hesitant to spend more than absolutely necessary for school stuff.
One-fifth of parents have set aside a portion of their federal tax stimulus check for back-to-school purchases, according to a National Retail Federation survey.
It found that the average family with school-aged children will spend $594.24 on back-to-school purchases. This includes everything from shoes to electronics.
Total spending this year to send elementary through high school kids back to school is estimated to reach $20.1 billion.
With retailers starting back-to-school promotions earlier, parents are taking the opportunity to search longer for bargains.
A large majority of consumers will head to discount stores for back to school purchases this year, trying to stretch their dollar. Shoppers are looking for deals and are also more likely to comparison shop and check online.
"Strong promotions and must-have brands will help retailers stand out in the crowd as shoppers look for the best bang for their buck on back-to-school purchases this year," said NRF President Tracy Mullin.
School sale: Today marks the final day of the annual Back-to-School & Fall Preview Sale at Chicago Prime Outlets in Aurora. Shoppers can find an array of sales. For example, Eddie Bauer Outlet is offering a "Buy 1, get 1 at 50 percent off" on jeans, khakis, T-shirts and more.
And nearly everything at the Lancome outlet store is 30 percent off while fall purchases at Marmara will be reduced 15 percent.
The mall is open from 10 a.m. to 6 p.m. today. For more, check out www.premiumoutlets.com/chicago.
Teen idol event: Students can sing their way to stardom at Golf Mill Shopping Center in Niles.
The Teen Idol at the Mill is a two-day event that starts at 5 p.m. on Aug. 12 with registration and then tryouts for teens ages 13 to 19, followed by finals at noon Aug. 16.
The first 500 teens will receive goody bags filled with discounts and coupons from an array of stores.
To find out more, check out www.golfmill.com.
Kim Mikus covers retail and small business. She welcomes comments at (847) 427-4567 or kmikus@dailyherald.com.