Delta variant, supply-chain chaos threaten to derail strong back-to-school shopping season

August 9 2021 by Lauren Thomas & Sarah Whitten of CNBC

Key Points

  • Shoppers are growing more anxious to visit stores, while some are cutting back spending, according to a new survey from First Insight.
  • This threatens to slow momentum for what many were predicting to be an incredibly strong back-to-school shopping season.
  • “The tail winds that retailers and restaurants have enjoyed recently may be short-lived,” S&P Global Ratings analyst Sarah Wyeth said.

U.S. shoppers are growing more anxious about visiting stores and trying on clothing in dressing rooms, according to a recent survey.

Some of those polled by First Insight also say they are beginning to cut back on spending due to the resurgence in Covid cases.

Both trends threaten to slow momentum for what many were predicting to be an incredibly strong back-to-school shopping season.

...Fifty-six percent of consumers say they’re proactively cutting back their spending at retail establishments, First Insight found in a survey of 1,038 people it fielded on Thursday. That’s up from 52% a month earlier, when the predictive consumer analytics firm asked consumers the same questions about their shopping behaviors tied to the pandemic.

First Insight’s poll also found that 64% said they are generally anxious about the pandemic, up from 51% in July. Fifty-six percent reported feeling nervous about interacting with sales associates in stores, a sharp increase from 43% in July.

Read the Full Article at CNBC

predictive analytics  retail  online survey  consumer study  consumer spending  Coronavirus  COVID-19  Consumer Purchase Behavior  Shopping Behavior  Consumer Survey  Safety  spending habits  back-to-school

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