As the back-to-school shopping season unfolds, U.S. retailers are aggressively marketing affordable options and "buy now, pay later" (BNPL) services to entice consumers, especially those with lower incomes. With back-to-school sales projected to remain steady or decline compared to last year, retailers are adapting to economic pressures, including persistent inflation on essentials like food and rent. Many families are feeling the pinch, leading to a shift in spending habits, such as opting for second-hand goods and store brands. For instance, one mother from Harlem plans to spend significantly more this year on school essentials due to the rising costs of items like laptops. The popularity of BNPL services is surging, with a notable increase in online purchases made through these platforms. Retailers are also launching sales earlier, influenced by events like Amazon's Prime Day. Overall, the back-to-school season is marked by cautious spending and strategic shopping as families navigate financial challenges.
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