Jul 17, 2011

Experts predict boost in sales during tax holidayBy Roddie BurrisIslandPacket.com

Shoppers scrambling for discounts in a battered economy should drive sales during South Carolina’s annual sales tax holiday in three weeks, experts say.

The state will suspend its 6 percent sales tax Aug. 5-7, along with all local-option taxes, on traditional back-to-school items, ranging from clothing and school supplies to computers and printers.

“The weekend should be very good for consumers,” said Marianne Bickle, a University of South Carolina retail professor. “I really believe people use the sales tax weekend (now) more than ever before, because they realize (in this economy) anything off is better than nothing off.”

Forecasters predict consumers nationwide will spend 3 percent more this year than last getting ready to return to the classroom, which could translate into $39 billion in total sales during the back-to-school shopping season from mid-July to mid-September.

In South Carolina, the three-day annual sales tax holiday has become the third busiest shopping period of the year, preceded only by the weekend after Thanksgiving and the weekend before Christmas, according to the S.C. Department of Revenue.

After being buffeted on all sides with bad financial news for at least the past three years, experts say consumers seek relief wherever they can find it.

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