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Parents Spending More Online Than In Malls For Back-To-School Shopping
Quicken® Back-to-School Survey Finds Shoppers Spending More on the Internet
Mountain View, Calif. - August 23, 1999 - Intuit Inc. (NASDAQ: INTU), With about three weeks remaining before school starts, the average American parent spent $192 on back-to-school shopping while those parents that purchased online spent an average of $203, according to a survey sponsored by Quicken, America's leading personal finance software. While there are few back-to-school shoppers online (2.3%), those that are find themselves spending more than parents who still brave crowded stores and shopping malls.

"Many surveys have tried to predict how much parents will spend online," said Tony Cook, managing editor of Quicken.com, "The Quicken Back to School Survey results actually show that Americans are prepared to spend more if they can mouse their way to the mall. The benefits of Internet shopping will help attract more and more shoppers annually."

Among parents polled who used the Internet, they reported online shopping helped them save time, find bargains and find exactly what they/their kids wanted. The survey found that those people who did purchase online, shopped at popular off-line store and catalogue sites including Land's End, LL Bean and Toys-R-Us.

Back-to-School, Back-to-Spending
In addition, survey results show a discrepancy among the average back-to-school expenditures of all American households - which include those households who have not made any purchases - and those that have begun purchasing back-to-school items. While the average parent spent $192, parents that have already started purchasing back-to-school items have spent an average of $307.

"Parents are spending a tidy sum to get their kids ready for the new school year and they need to budget carefully," said Cook. "The good news is there are free tools and information available through Quicken.com to help parents manage their back-to-school spending and purchases throughout the year." To keep parents from spending more than expected, Quicken.com offers the following advice:

  • Get organized. Set a realistic budget and stick to it. Personal finance software, like Quicken, can help you easily plan your spending in advance, and help you stay organized. For example, Quicken can help you create a back-to-school budget, and show you how much you have spent on items such as clothes, supplies and electronic items.
  • Plan your shopping in advance. Know what you want to buy and what's on sale before you leave for the mall. Avoid shopping for the sake of shopping, and resist any impulse purchases. Don't shop when you're tired, hungry, or feel pressured.
  • Do next year's shopping this year. Take advantage of post-back-to-school sales and stock up on items you know your kids will need next year. Supplies and merchandise will be drastically reduced and you'll avoid the frenzied crowds next year.
  • Watch what your kids are spending money on. Make sure your kids aren't purchasing expensive or inappropriate items for school. Information about financial responsibility can be found on the Quicken.com Teen Spending Channel (www.Quicken.com/teens). Parents can even set up an Internet shopping account through the Teen Spending Channel where they can monitor purchases and make sure they don't buy items their kids have already bought!
Additionally, Quicken Deluxe 2000 for Macintosh and Windows, the latest versions of Quicken, will be available this month. More information about Quicken.com or Quicken 2000 is available at Intuit's press Web site at www.intuit.com/pressroom. Consumers may receive more information about Quicken via www.quicken2000.com or 1-800-4-INTUIT.)

The Quicken Back-to-School E-Commerce Survey, conducted by Bruskin Goldring Research, findings are based on telephone interviews with a random cross-section of 561 adult American parents of children ages six to 17 years old.

QUICKEN BACK TO SCHOOL E-COMMERCE SURVEY

Fact Sheet

On average, American families spent $192 on back-to-school shopping.

Male $215
Female $172
On average, American families have spent $203 on Internet back-to-school shopping.
Male $150
Female $235
On average, American families that have made back-to-school purchases have spent $307. Parents in the Northwest on average spend ($356) more than in other areas of the country.
Male $167
Female $414

Northeast $356
North Central $312
South $301
West $275
Only 2.3% of American families did any back-to-school shopping on the Internet this year.
Male 1.5%
Female 3.1%
2.9% of American parents report using the Internet for back to school shopping last year.
Male 3.6%
Female 2.1%
Almost half (46%) of families with children six to seventeen years old have Internet access. Internet access grows to 66% among highest income households.
Under $20,000 14%
$20,000-29,999 28%
$30,000-39,999 37%
$40,000-49,999 52%
$50,000+ 66%
 
About Intuit
Intuit Inc. (NASDAQ: INTU), a financial software and Web-based services company, develops and markets Quicken, the leading personal finance software; TurboTax, the best-selling tax preparation software; and QuickBooks, the most popular small business accounting software.

Intuit's Quicken.com Web site (www.quicken.com) is a leading financial Web site, offering a comprehensive set of financial news, information and tools, including insurance, mortgage, investment and tax preparation services. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses.

Intuit, Quicken, QuickBooks, QuickBooks Pro, TurboTax and ProSeries, among others, are registered trademarks and/or registered service marks of Intuit Inc. or one of its subsidiaries. Quicken.com and WebTurboTax, among others, are trademarks and/or service marks of Intuit Inc. or one of its subsidiaries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

 
 
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