Analysts: Border shopping rules will hurt back-to-school sales
Like it or not, time is ticking to get the kids ready for their return to class.
The deals & promotions are already going---on everything from laptops to backpacks to shoes.
But analysts predict back-to-school sales will grow only modestly this year compared to last. Data from Ernst & Young puts the increase at 2.5%.
The reason: low consumer confidence & new higher limits on how much you can bring back from stateside shopping trips.
New rules that kicked in June 1st increased the duty-free limit on 24-hour trips from $50 to $200. Now, after a stay of 48-hours you can bring back $800 worth of stuff. There still isn't any exemption for same-day trips.
Analysts say online shopping also makes it easier for bargain-hunters to stock up on goods from the US rather than buy them locally.