Dive Summary:
- After lower than expected U.S. retail sales revenues, many retail chains throughout the U.S. are gearing up to cash in on increased spending in back-to-school shopping, according to reports from Forbes.
- Initial sales totals were expected to reach a 0.8% increase, but posted overall totals which came in a bit lower than initially anticipated by economists – at 0.4% total.
- “We thought there would be pent up demand in the second quarter of 2013, but we didn’t see that demand manifest,” says Jan Rogers Kniffen, CEO of J Rogers Kniffen WWE. Nearly every major retailer has put in place strategies to capitalize on the seasonal event and increase sales with a variety of marketing campaigns.
From the article:
... The mainstream retailers, such as Wal-Mart and Target TGT -0.39% are also heavily dependent on the back-to-school shopping season. Target will setup various pop-up store locations on college campuses, to make access to college-related items more convenient for students. ...
