COLUMBUS, Ohio — Shoppers are signaling a desire to cut back on spending during July, according to a new survey from Kantar Retail here.
Kantar's June ShopperScape survey showed that shoppers' plans to increase spending during the coming four weeks decreased by 1%, while their plans to decrease spending rose by the same amount. And while shoppers felt better about job security and the value of their homes and investments than they did a year ago, concern increased over credit card debt since last year, Kantar said.
Retailers can look forward to more spending for back to school, Kantar added, saying the percentage of consumers planning to increase back-to-school spending (21%) exceeds those planning to spend less this year (19%).
Kantar's studies indicated that consumers expressed feelings of sadness and helplessness related to the Gulf oil spill, and worry that they could feel its effects in the form of more expensive fuel and seafood.