Gloomy Outlook for Back-to-School Season

NEW YORK (AdAge.com) — It's still more than a month from September, but the back-to-school season is already looking bleak. A study by Deloitte found that 71% of households will spend less on back-to-school shopping this year, with 48% of consumers surveyed saying they would spend more than $100 less. "Consumers have been pessimistic for several months, primarily because of the strains on their budgets from higher gas and food prices," said Stacy Janiak, leader-U.S. retail at Deloitte. "These survey results indicate that consumers will likely stick to the basics this fall, and parents may be saying 'no' more often as they head to the register."

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