It’s that time of year again–Back to School time. Hundreds of small businesses hold their breaths each year as this make-or-break season kicks in. Prior years have been tough. Consumer confidence has been low and wallets have stayed relatively closed. What about this year?
Well, the economy hasn’t improved. Unemployment remains high, and confidence remains low. While basic school needs remain, discretionary expenditures are bound to stay low. Look for consumers to buy the basic consumables but shun the extras. Basic clothing should sell but quantities will remain in check. Also, new electronics that historically have generated excitement are non-existent this year.
So, look for a flat year-to-year performance. Not what everyone was hoping for but better than being down!
— Steve Odland