Tax returns could boost retail sales

U.S. retailers are probably looking forward to Wednesday when income tax season officially ends.

Sixty six percent of all U.S. consumers expect to receive a tax refund this year, according to data released Monday by the International Council of Shopping Centers.

When asked how they plan to spend their extra money, 47 percent said they will spend it on various goods and services, including electronics, clothing and convenience items, the council’s consumer survey stated.

“As the economy continues to strengthen and consumer sentiment remains positive, this influx of disposable income is a boon for retailers and shopping centers,” said Jesse Tron, spokesman for the New York-based council, in a statement. “Just as lower gas prices have positively impacted consumer spending, so to will tax refunds bolster our economy.”

Business at shopping malls does tend to rise after April 15, said Terri Relf, senior marketing manager at Inland Center Mall in San Bernardino.

“It’s just like when people get paid,” Relf said. “When people get their paychecks sales and foot traffic go up. It’s the same thing with tax refunds, and it can last a few weeks.”