NEW YORK–Consumers plan to maintain their back-to-school spending, but will carefully monitor that spending using smartphones and social networks, according to a new Deloitte survey.
According to the survey, 86 percent of households surveyed expect to spend the same or more on back-to-school items this year, but inflation-related concerns could cause them to change their shopping plans, according to Deloitte, which conducted the survey of 1,000 respondents between July 5 and 11, 2011.
The survey found that consumers will use their smartphones to find the best price, locate promotions and discounts, and track down the items they want to buy.
“Retailers need to be prepared for a consumer who is sensitive to prices, especially with the pinch households are feeling from higher gas and energy costs this summer,” said Alison Paul, vice chairman and Deloitte’s retail and distribution sector leader. “Retailers should monitor customers’ reaction closely to recognize where they are flexible, and where promotions are necessary to drive traffic and generate purchases of higher margin products in the store.”