Retail News & Headlines
July 28, 2021

Top stories in retail news and the business headlines that interest us today.

Back-to-School Demand

Back-to-School Demand

“Stimulus checks and advance child tax credits from U.S. President Joe Biden’s administration are expected to boost sales of back-to-school merchandise, especially shoes and clothing, following last year’s outlays on laptops, headphones and other equipment for remote learning. The National Retail Federation expects total back-to-school spending to rise 6.4% to $108.1 billion this year. Average spending for all age groups is forecast to be $2,049, up 10.8%.”

Meet the Typical Costco Shopper

Meet the Typical Costco Shopper

“Costco’s typical shopper in the US is an Asian-American woman between 35 and 44 years old, who is married and living in a city in the Pacific Northwest. (Costco was founded in Seattle and is based in Washington state).

She typically has a 4-year degree or higher education and earns more than $125,000 per year.

The typical customer visits Costco on a weekend day every two to three weeks — about 23 trips per year — and picks up 9 products for a total cost of about $114 per trip. The company only stocks 4,000 products (SKUs), compared with 30,000 at many other retailers.”

Unused Gift Cards

Unused Gift Cards

“If you’re like many Americans, you could be sitting on a small financial windfall.

A new Bankrate.com survey finds that more than half of adults — 51% — currently have unused gift cards, vouchers and store credits. In total, that adds up to approximately $15 billion in unused money.”

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