Tax refunds: Will consumers splurge or save?

New NRF data to explore with your students
By Lottie Watts

The latest consumer spending study from the National Retail Federation looks at what those who expect to get a tax refund are planning to do with it.

These insights that retail professionals rely on to understand trends are also available for educators to use with their students. It’s easy to share NRF’s survey (conducted by Prosper Insights & Analytics) gauging spending and saving behavior related to U.S. income tax returns. You can show the slideshow from this page or download the slides.

Suggestions on how to use this resource with your students:

  • Ask students to predict what they think people who are expecting to get a tax refund are planning to do with it. Reveal what NRF found, and then discuss how retailers might use this information as they select products
  • Provide examples of how to ask open-ended questions to help determine how to meet the needs of customers as they plan to spend their tax refund money
  • Have students work in teams to create a visual merchandising plan to drive sales for a major purchase, home improvement or a splurge

Plus, check out how consumers are planning to mark the St. Patrick’s Day holiday this year. Results of that survey are available now from NRF.   

Learn more about programs and resources from the NRF Foundation – including its industry-recognized RISE Up training and credentials – that help people of all backgrounds build life-changing careers.

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