Strong, Early Back-to-School Shopping Season Predicted With National Consumer Survey
July 29 2004 - 11:45AM
PR Newswire (US)
Strong, Early Back-to-School Shopping Season Predicted With
National Consumer Survey Among the Key Findings: Clothing and Cell
Phones Top Students' Lists, Malls Are Key Shopping Venue SANTA
MONICA, Calif., July 29 /PRNewswire-FirstCall/ -- The
Back-to-School season is off to an early start this year and
shoppers are preparing to open their wallets, according to a new
Shopping In America report, released today by The Macerich Company
(NYSE:MAC), owner of more than 62 regional shopping centers
nationwide. The national survey, conducted by August Partners among
nearly 6,500 parent and student (aged 10 - 25 years) consumers,
revealed strong seasonal purchasing intentions, with malls topping
the list of shopping venues. Among the findings: -- The majority
(53.5 percent) of shoppers will finish back-to-school shopping by
August 15. Almost three quarters (73.1 percent) will complete
purchases by September 1. -- Overall, shoppers plan to spend an
average of $614.62 on back-to- school purchases. -- Parents plan to
spend an average of $667.31 on back-to-school purchases or $333.66
apiece for two children. -- Parents say $398.12 will go towards
clothing and accessories -- an amount that almost 86 percent of
respondents say is the same or more than last year. About 14
percent plan to spend less. -- Students say they will spend an
average of $576.51 on back-to- school items, including $329.88 on
clothes and accessories. Similar to parents, nearly 86 percent will
spend the same or more than last year on clothing and accessories.
Just over 14.5 percent indicated they will spend less than in 2003.
-- Almost all parents (90.7 percent) and students (87.7 percent)
intend to purchase new back-to-school clothing and accessories. --
Outside of clothing and accessories, cell phones/calling plans top
the list of anticipated spending for students at 25.5 percent,
slightly above school supplies (24.5 percent); electronic
games/players (20.1 percent); digital music devices (15.4 percent)
and surprisingly even computer/laptops (14 percent). "The survey
predicts a strong back-to-school season, with many shoppers
planning to complete their purchases early," said Garry Butcher,
vice president, marketing and consumer research for Macerich.
"Retailers are gearing up, as most shoppers will be heading to the
mall." According to the Macerich Shopping in America survey, malls
are the most popular back-to-school shopping destination. More than
half (55.2 percent) of respondents intend to purchase clothing and
accessories at mall department or specialty stores, while 17.7
percent will shop at discount stores, about 15 percent at other
specialty stores, 4.5 percent online and only 3.5 percent via
catalogs. Added Butcher, "Shopping centers are also a top choice
among the important 10-14-year-old tween market, as almost 61
percent of this group plan to purchase back-to-school clothing and
accessories at mall specialty or department stores -- almost six
times the amount for discount stores (10.5 percent)." The report
also shows anticipated spending among merchandise fashion
categories: -- For parents, jeans/shorts top the shopping list with
23.2 percent, followed by tops/shirts (15.9 percent) and
shoes/sneakers (15.6 percent); -- About six (5.9) percent of
parents report that school uniforms are on their purchasing agenda;
-- Students' priorities mirror their parents. They rate
jeans/shorts (25.7 percent) at the top, followed by tops/shirts
(17.8 percent) and shoes/sneakers (14.6 percent). School uniforms
are last on the list for 3.4 percent. Distressed denim jeans, mini
skirts, low rise jeans and fitted T's rank similarly as popular
fall fashion trends, each selected by about 15 percent of combined
student and parent respondents. Shopping In America is a national
survey that studies consumer shopping trends. Survey malls are
geographically spread proportionately among the four major U.S.
Census regions, approximating the weight of the population residing
in those regions. There are 20 participating malls located in 18
states; 14 of the shopping malls are Macerich owned. More
information about the Shopping in America surveys can be found at
http://www.shoppinginamerica.biz/ . The Macerich Company is a fully
integrated self-managed and self- administered real estate
investment trust, which focuses on the acquisition, leasing,
management, development and redevelopment of regional malls
throughout the United States. The Company is the sole general
partner and owns an 81% ownership interest in The Macerich
Partnership, L.P. Macerich now owns interests in properties
totaling approximately 61 million square feet consisting primarily
of interests in 62 regional malls. Additional information about The
Macerich Company can be obtained from the Company's website at
http://www.macerich.com/ . DATASOURCE: The Macerich Company
CONTACT: Tresa Hardt, , or Kim Craig, , both for The Macerich
Company, +1-972-788-4511 Web site: http://www.macerich.com/
http://www.shoppinginamerica.biz/
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