The back-to-school shopping season has arrived as inflation continues to push up prices and squeeze consumer budgets.
A new survey by the group found more than 85 per cent of Canadians make back-to-school purchases, with apparel the top spending category followed by books and electronics. The increasing price-sensitivity of shoppers is expected to spur retailers to offer discounts and sales to attract consumers. “I don’t actually have to worry about school supplies for my daughter but for my son we were given a supply list and we have to go out and shop,” she said.Article content
Big box stores often lure shoppers with something the retail industry calls a loss leader, where a product is sold at or below its market cost. Higher prices are prompting shoppers to opt for lower-cost retailers and “trade down” for cheaper options.