It looks like back-to-school sales are going to be WAY DOWN this year. According to a Deloitte survey we saw on developer Madison Marquette’s blog, 71% of those polled said they plan to spend less. And apparel will take the biggest hit, with 83% of the responders saying that that is where they will make a majority of cuts.
Not surprisingly, the poll found that high gas and food prices are driving this. Will we continue to see the Wal-Marts of the world do well in this environment and clothing chains and department stores suffer? You can check out the full survey below. Enjoy.