Drop in gas prices could boost back to school sales
Today, summer travel is getting a little easier with gas prices falling nearly 15-cents a gallon in two weeks to $3.85. But consumers are still showing a reluctance to spend. We’re seeing the effects of those Spring rebate checks from the government starting to wear off.
For retailers who count on spending now these are turning out to be the dog days of summer. This August back-to-school shopping is about getting the best buy. Ask Teresa Daniella who’s shopping for four. Teresa says “it might take me three days to do it, but where the best prices are is where I’m going to go!”
A report out this week is expected to show Americans held their wallets in July as cash from the government’s rebate checks ran out. Scott Krugman of the National Retail Federation says “it’s a tough environment for the retail industry right now. You are having a housing crunch, higher gas prices, higher food costs all that pulling away discretionary income from consumers.”
