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Surveys Predict Robust Back-to-School SpendingSpending on both apparel and school supplies on the rise.
[Collection]For brands banking on back-to-school, there’s cause for optimism.
Household spending on clothing, supplies, computers and electronics for children in grades kindergarten to 12 is expected to reach nearly $28 billion this year, up from $27 billion in 2017, according to Deloitte’s annual b-t-s survey.
Consumers are expected to spend $286 for b-t-s apparel, on average, versus $284 last year, and $112 on b-t-s supplies this year, versus $104 last year, according to Deloitte.
Parents said they’ll spend an average of $510 between July and September, including $292 at stores and $115 online. They’re undecided on how to spend the remaining 20 percent of their budgets, leaving $5.5 billion up for grabs among online and brick-and-mortar retailers, Deloitte said.
“The amount people plan to spend and tendency to shop in physical stores for back-to-school are consistent with last year, but retailers need to act fast for that $5.5 billion wild card,” said Rod Sides, vice chairman, Deloitte LLP, and U.S. retail, wholesale and distribution leader.
The Deloitte survey was conducted online from May 31 to June 6 using an independent research panel polling 1,200 parents of children in grades kindergarten to 12. There’s a margin of error of plus or minus three percentage points.
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