As the findings of NRF’s recently released survey show, back-to-school and back-to-college spending is expected to be flat this season. “Is flat the new up considering the economy?” asked CNBC anchor Michelle Caruso-Cabrera to NRF President and CEO Matthew Shay this morning during an appearance on the network’s show Squawk Box.
In his response, Shay shares why the retail industry is a good proxy for the overall health of the U.S. economy and how the debate on Capitol Hill over the debt ceiling may be a factor in consumer reluctance to buy. During the segment, Shay also discusses how department stores are making a comeback, how electronics purchases will play out among the college crowd, and when retailers can expect the biggest crowds for the season. Watch the full video below.
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[...] an average of $808.71 on clothes, electronics, dorm gear and food, about 3% less than in 2010. The CEO of the the NRF told CNBC this morning that he thinks the spending numbers speak to current economic weakness and consumer trepidation [...]
[...] an average of $808.71 on clothes, electronics, dorm gear and food, about 3% less than in 2010. The CEO of the the NRF told CNBC this morning that he thinks the spending numbers speak to current economic weakness and consumer trepidation [...]