Latest news with #NationalRetailFederation
The Independent
42 minutes ago
- Business
- The Independent
Nearly half of parents say they plan to go into debt this year to pay for school supplies because they are so expensive
Fears over rising prices — driven in part by President Donald Trump's tariffs — are convincing some parents to shop early and even consider going into debt for their children's school supplies. According to a report from Intuit Credit Karma aimed at parents with school-age children, 39 percent of respondents said they can't afford their back-to-school shopping this year. In the same survey, 44 percent of respondents said they planned to go into debt to cover the costs of school shopping. The number of parents who expect to go into debt to afford supplies for their children has risen by 10 percent since last year. When Intuit asked the same question in 2024, only 34 percent of parents reported planning to take on debt. According to a CNBC price and inflation tracker, the price of many school supply staples has increased since the pandemic. The cost of backpacks has increased by nearly 30 percent since 2021. Lead pencils and art supplies have increased by 26 percent, and tablets and paper pads by 24 percent. In other words, if a backpack was $12 around 2021, it's likely now around $15.60. In 2021, Amazon sold a 24-pack of Ticonderoga #2 lead pencils for $3.49. That same pack on Amazon today costs $5.49. Families with children in elementary school are reportedly planning, on average, $858.07 on school supplies this year. That number is a decrease from last year, when parents planned to spend $874.68, according to the National Retail Federation. The fear of rising prices has already shifted some parents' buying habits — according to the Intuit survey, more than half — 56 percent — of respondents said they're already cutting back on nonessential school purchases to save money. The potential for Trump's tariffs to drive up prices has driven early back-to-school shopping by parents hoping to save some money, a survey from Coresight Research found. Well over half of the respondents to that survey — 62 percent — said they planned to begin back-to-school shopping before August. John Mercer, an analyst at Coresight, told CNBC that the early buying was "probably to preempt any price rises." He said that retailers haven't raised prices yet, primarily due to Trump's pause on tariffs, but he expects that once the pause ends, prices will rise. 'At some point, if tariffs come in, there will be price impacts,' Mercer said, noting that 'consumers are right to be concerned.' The National Retail Foundation shared similar findings — parents are adjusting their buying this year in part due to fears that tariffs and inflation will lighten their wallets beyond what they can bear. 'Consumers are being mindful of the potential impacts of tariffs and inflation on back-to-school items, and have turned to early shopping, discount stores and summer sales for savings on school essentials,' Katherine Cullen, the National Retail Foundation's vice president of industry and consumer insights, said in a statement.
USA Today
2 days ago
- Business
- USA Today
How much more will you spend at the supermarket in 2025?
A majority of consumers describe themselves as financially stressed, and looming price hikes on many supermarket products, stoked by tariff policies, won't help. Food-price increases have been relatively mild so far this year, but some experts warn that could change soon. The national monthly inflation report that came out on July 15 reflects the first real signal of tariff inflation, "with almost all of the impact on consumer prices still to be seen in the months ahead," predicted David Kelly, chief global strategist at J.P. Morgan Asset Management. That's one of the key midyear trends that bear watching. Other key ones involve competitive pressures among supermarkets and the pace of consumer spending. Tariff turmoil awaits President Donald Trump's efforts to raise import taxes on a slew of imported products could increase prices in supermarkets. It hasn't happened yet in a big way, but more food inflation could be coming. With the White House delaying many tariffs, importers have had time to prepare, helping to ease the impact. 'Retailers are working hard to stock up for the holiday season before the various tariffs that have been announced and paused actually take effect,' Jonathan Gold, a vice president at the National Retail Federation, told Progressive Grocer, a trade publication. 'Retailers have brought in as much merchandise as possible ahead of the reciprocal tariffs taking effect." In case you missed it: How will Trump's tariffs affect grocery store prices? We explain. Over the 12 months through May, food prices nationally rose 2.9%, higher than the overall 2.4% increase in the Consumer Price Index. Certain items have risen more than that. A 11.5% jump in the price of coffee, which is mainly grown in Latin America, Africa and Asia, is one example, along with increases for fruits, nuts, sugar and other sweeteners, plus various vegetables and fruits, much of it trucked up from Mexico. Other items like paper goods and aluminum foil could also be affected. But the most notable food jump lately, a 41.5% surge over the past 12 months in egg prices, reflects a nontariff cause, avian flu. Belt-tightening consumers In a slowing economy, with rising inflation concerns, millions of Americans remain wary of grocery-store prices and those for other items. Big Chalk Analytics estimates the percentage of Americans who have actively reduced spending had risen from 27.8% in the Spring of 2024 to 34.5% in the Spring of 2025. These consumers are characterized by prioritizing needs over wants and seeking out more affordable options. The Chicago research firm describes these as 'trade-off consumers,' and they aren't just lower-income families. Still, consumers have made some progress with their budgets, helped by wages that have been outpacing inflation, the company said. Even so, most people aren't feeling especially prosperous, with 32% describing their financial condition as 'healthy,' with the rest falling into the vulnerable, overextended or stressed categories. Those findings, as of May from J.D. Power, were elicited from the majority of consumers who have bank accounts. People lacking bank accounts tend to be worse off. Reach the writer at
Fibre2Fashion
6 days ago
- Business
- Fibre2Fashion
Early shopping, tariff concerns drive US back-to-school trends: NRF
Back-to-school shoppers in US are kicking off their purchases earlier than ever in 2025, driven by tariff concerns and a hunt for deals, according to the latest annual survey by the National Retail Federation (NRF) and Prosper Insights & Analytics. As of early July, 67 per cent of shoppers had already begun buying items for the upcoming school year—the highest rate since NRF began tracking early shopping in 2018 and a sharp increase from 55 per cent last year. The early shopping trend is largely influenced by economic uncertainty, with 51 per cent of back-to-school families starting earlier specifically due to fears of price hikes caused by tariffs. Back-to-school shopping in US is starting earlier than ever in 2025, with 67 per cent of shoppers beginning by early July, driven by tariff fears and deal-hunting. While average spending per student is down slightly, total Kâ€'12 and college spending is set to hit $39.4 billion and $88.8 billion, respectively. Online and discount stores remain top channels amid economic caution. Despite the early momentum, 84 per cent of consumers reported having at least half of their shopping still left to complete. The primary reasons for holding off include waiting for better deals (47 per cent), uncertainty about required items (39 per cent), and spreading out budgets over time (24 per cent). Retailer-led summer sales events such as Amazon Prime Day, Walmart Deals and Target Circle Week are playing a pivotal role, with 82 per cent of shoppers timing purchases around these promotions, NRF said in a release. 'Consumers are being mindful of the potential impacts of tariffs and inflation on back-to-school items, and have turned to early shopping, discount stores and summer sales for savings on school essentials. As shoppers look for the best deals on clothes, notebooks and other school-related items, retailers are highly focused on affordability and making the shopping experience as seamless as possible,' said NRF vice president of Industry and Consumer Insights Katherine Cullen . For K–12 students, families expect to spend an average of $858.07 this year—slightly below 2024's $874.68. Nonetheless, increased participation is projected to push total K–12 spending to $39.4 billion, up from $38.8 billion last year. Spending is led by electronics at an average of $295.81 per household ($13.6 billion total), followed by clothing and accessories ($249.36 or $11.4 billion), shoes ($169.13 or $7.8 billion), and school supplies ($143.77 or $6.6 billion). Online remains the top shopping channel (55 per cent), followed by department stores (48 per cent), discount retailers (47 per cent), and clothing stores (41 per cent). College shoppers are also scaling back per-person budgets—$1,325.85 on average, down from $1,364.75 in 2024. However, broader participation means total back-to-college spending is forecast to hit a record $88.8 billion, up from $86.6 billion. 'This increase can largely be attributed to higher income households, while lower income households are pulling back across categories because of economic uncertainty. Regardless of income, families want to ensure their students are set up for success. They are cutting back in other areas, using buy now, pay later or buying used or refurbished items to have everything they need for the school year,' stated Prosper executive vice president of strategy Phil Rist . Online leads again as the most popular shopping channel (48 per cent), while discount stores have grown in appeal (36 per cent, up 5 percentage points), followed by department stores (35 per cent) and college bookstores (27 per cent). The NRF's annual survey, based on responses from 7,581 consumers polled between July 1 and July 7, has a margin of error of ±1.1 percentage points and has tracked back-to-school shopping behaviour since 2003. Fibre2Fashion News Desk (HU)
Axios
6 days ago
- Business
- Axios
What tariffs mean for back-to-school shopping in Florida
Parents are heading into the 2025 back-to-school season facing rising prices and looming tariffs — forcing them to shop smarter and earlier. Why it matters: Back-to-school is the second-biggest retail event of the year, after the holidays. This season is a stress test for family budgets and a strategy test for retailers trying to hold onto value-conscious shoppers. Catch up quick: New U.S. tariffs on Chinese imports — including backpacks, pens, binders and shoes — kicked in earlier this year, rose sharply, then came back down to levels still historically high. Some retailers stocked up early and "purchased a lot in advance, and some didn't purchase as much because of the uncertainty," Deborah Weinswig, CEO of Coresight Research, told Axios. Zoom in: Gov. Ron DeSantis signed into law this year a permanent, annual back-to-school sales tax exemption throughout August on clothing, shoes, backpacks, school supplies and personal computers. Clothing, footwear, wallets and bags priced at $100 or less are exempt from sales tax. Jewelry, watches and umbrellas aren't. School supplies priced at $50 or less per item are included, such as pens, pencils, binders and lunch boxes. Personal computers and related accessories priced at $1,500 or less are also tax-free. The big picture: 67% of back-to-school shoppers had already started buying for the coming school year as of early June, according to the National Retail Federation's annual survey of nearly 7,600 consumers. This is up from 55% last year and the highest since NRF started tracking early shopping in 2018, the group said. 51% of families said they are shopping earlier this year compared with last year, "out of concern that prices will rise due to tariffs." By the numbers: Stationery and supplies prices have risen 30% over the past five years, according to Deloitte's 2025 back-to-school survey. Between May 2021 and 2025, boys' apparel climbed 14%, girls' apparel and footwear were each up 4%, while personal computers and peripheral equipment fell 11%. "Parents are experiencing overall economic pressures and need to make decisions about what they buy," Brian McCarthy, principal of retail strategy at Deloitte Consulting LLP, told Axios.
Associated Press
16-07-2025
- Business
- Associated Press
The Spanish Group Gives Retail Industry Language Translation Pointers for Countering Market Confusion
A Certified International Language Service Offering Translation in 123 Languages. Connecting Through Language is Key to Supporting Market Growth, Cementing the Two Rs of Retail IRVINE, CA - The Spanish Group, an internationally recognized and ISO-Certified translation service, is sharing pointers for cementing relationships and revenue — the 'Two Rs of Retail' — to counter market confusion and constriction as unclear U.S. tariff policy impacts global trade. 'Global tensions and unpredictable tariffs involving China and Eastern Europe have led U.S. retailers to reevaluate sourcing strategies. Many are shifting to near shoring options in Latin America or Southeast Asia,' notes The Spanish Group CEO Salvador Ordorica. 'In any new market, accurate and culturally intelligent language becomes a strategic asset that helps reduce friction and ensure smoother operations across borders.' According to the National Retail Federation (NRF), the U.S. import market reached $3.2 trillion in goods in 2023. Consumer products from electronics to toys experienced a surge in Q4, with over 30% of retail imports arriving between September and November. 'The approaching holiday retail season makes language even more critical. Poorly translated manuals, labels, or customs declarations can delay entry or trigger returns, cutting into the most profitable quarter of the year,' says Ordorica. 'Quality language services reduce those risks.' Use Your Words Misunderstandings in supplier contracts, customs documentation, or compliance materials can lead to delays or financial penalties, especially during the holiday peak. Ordorica's tips for using language to improve retail and ecommerce success include: 'Language is a form of connection. When you speak to a customer in their preferred language, you are saying: We see you, we value you. This builds trust, encourages repeat purchases, and reduces friction,' says Ordorica. 'Brands that invest in accurate, localized messaging see higher engagement and stronger loyalty, especially during emotionally driven seasons like the holidays.' Forging New Paths For business owners wondering how to prepare for the uncertainty, Ordorica recommends: About The Spanish Group Founded in 2013 by Salvador Ordorica, CEO, The Spanish Group is an internationally recognized ISO 9001:2015 and ISO 17100:2015 certified translation service offering 123 languages and unparalleled language precision, localization, cost effectiveness, and efficiency. The Spanish Group sets itself apart by working with certified, professionally trained linguists all over the globe who are native speakers and deeply experienced specialists in a variety of fields. The Spanish Group is trusted by Fortune 500 companies, law firms, small businesses, universities, embassies, and other governmental agencies to deliver accurate, culturally correct translations and localizations that help them operate seamlessly across multiple languages. For more information, visit: Media Contact Company Name: The Spanish Group Contact Person: Pam Abrahamsson Email: Send Email Phone: 503-298-9749 Country: United States Website: Press Release Distributed by To view the original version on ABNewswire visit: The Spanish Group Gives Retail Industry Language Translation Pointers for Countering Market Confusion
