Retailers Beware -- Consumers Aren't Shopping With Tax Money
- Tax refunds seen making little impact on retail registers
- New tactics needed to entice millenials as they choose to save
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Consumers aren’t running out to the mall in droves with their tax-refund dollars. In fact, it doesn’t seem that tax reform will put much money in apparel retailers cash registers at all -- at least not from shoppers.
It was food and entertainment/technology which were the most likely categories to benefit from a pay check boost, according to the latest BDO Consumer Beat Survey, Natalie Kotlyar, national leader of BDO’s Retail & Consumer Products practice, said in a phone interview.