With PFD Distribution Looming, Retailers Prepare
Dividend check season rivals holidays for some businesses
ANCHORAGE - The countdown is on for permanent fund dividends. Those with direct deposit will find extra cash in their accounts on October 4. While residents have just under a month to wait, retailers have been planning for the cash for months.
“Everyone wants to get a piece of it if they can,” said State Labor Economist Alyssa Shanks. “There are lots of deals and we know there is a lot of spending that goes along with that.”
Alaskans may not know how much they’ll get but most have plans for spending the checks once they arrive. Fewer said they planned to save, including one woman who says the checks go straight into her son’s college fund account.
Local retailers are also gearing up for PFD time and have been for months. And while they don’t expect Alaskans to load up on luxury items, the checks still checks still generate a big jump in sales that can rival even holiday spending.
“This is one of those months that you see a lot of traffic in the facilities,” said Sam’s Club manager Doug MacIntosh. “We need to make sure we are prepared for that and sales volume too.”
Most businesses aren’t yet ready to announce PFD deals yet, but say they are coming. Consumers can anticipate ads announcing dividend deals within the next three weeks.