Wednesday, July 22, 2009

Sales tax holiday cushions back-to-school outlays

WASHINGTON (7/20/09)--The economy is putting a tight squeeze on back-to-school shoppers this year, confirmed a recent survey by Washington, D.C.-based National Retail Federation (NRF). One option for budget-conscious parents or students is to take advantage of some tax-free holidays in the coming weeks.

According to the NRF's 2009 Back to School Consumer Intentions and Actions Survey, released July 14, the average family with K-12 learners will spend an average $548.72. That represents a decrease of 7.7% from $594.24 in 2008. The survey revealed that four of five Americans expect to cut back on back-to-school spending this year, 56.2% will search for sales, 59.6% will spend less overall, 41.7% will buy generic, and 40% will cut coupons.

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