The back-to-school sales are about to start and there are already a number of sales ongoing that aims to take advantage of some last minute shopping. U.S. retailers understand that sales do not look that promising, so are looking north for better results – yes that means Canada.
The Financial Post has been looking into this and has some interesting data from Ernst & Young. Sales were very low in 2009, but 2010 looks to have gotten off to a better start in Canada, an increase of 4 to 5 percent on school supplies, such as electronics.
The Canadian retailer admitted that they expect sales to do much better on home soil rather than the U.S, and is mirrored in many other markets as well. The reason for this was because the United States was hit harder by the recession than their northern neighbors.
You would assume that clothing and apparel would be the top selling category, but you would be wrong. The top category is technology, so expect sales of the Kindle, iPad, laptops, netbooks and other such devices to do very well.
Best Buy still has a few back-to-schools offers on, but hurry, as there are not many left. Just expect this weekend to be one big made rush, as there are some parents who have yet to get their kids all the things that they need for the new year at school or college.
Also See: GoPro share price today after IPO