NEW YORK — Retailers are suffering through the slowest back-to-school shopping season since the recession ended in 2009, raising concern that the year-end holidays will bring more of the same.
Spending in the period, which continues through the end of September, has risen 3.1 percent, missing a forecast for a 3.2 percent gain, according to research firm Customer Growth Partners. That’s the smallest increase in more than five years. Another ominous sign: Store traffic declined 4.2 percent in July and slipped an additional 4.7 percent in August, according to ShopperTrak, a Chicago-based research firm.
The back-to-school shopping rush is second only to the holiday season in its importance to retailers, and some analysts view it as a harbinger for the rest of the year. Chains have cut prices and stepped up sales promotions to entice customers, without much success, and e-commerce competition is growing.
“It was by no means robust in any way, shape or form,” Ken Perkins, president of industry tracker Retail Metrics, said in an interview. “Competition is going to remain fierce, and there’s going to be a significant amount of promotions taking place.”