Back to school sales give retailers a bump in profits
Next to Christmas, back to school sales are the largest for retail giants like Wal-Mart, Target and Staples. In order to fight online sales, retailers are giving customers pricing unlike anything they have seen before. According to the National Retail Foundation, parents are looking to spend more than ever on back-to-school supplies for their children.
"If there's money out there to be had, they feel like they need to get it now in case months from now people aren't feeling so fabulous," Wendy Liebmann, CEO of consulting group WSL Strategic Retail, told USA Today.
Some retailers are even cashing in on back-to-school sales through special promotions. Wal-Mart has launched a deal that is aimed toward students and teachers alike, allowing certain products such as paperclips, erasers and pencils to sell for as little as 88 cents.
Staples has offered a special promotion where students can exchange their old binders for a $2 discount for new units. Other stores are cashing in on web sales. Target extended its Black Friday pricing to apparel and electronics for its online customers.
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