This is not bad news, however, for retailers. Total spending is expected to reach $24.9 billion, with families on average spending 42 percent more on BTS purchases over the past 10 years. And if you add in college students to the overall average, BTS spending will reach $68 billion.
“As seen over the last 13 years, spending on back-to-school has consistently fluctuated based on children’s needs each year, and it’s unlikely most families would need to restock and replenish apparel, electronics and supplies every year,” says Matthew Shay, president and chief executive officer, NRF. “Parents this summer will inventory their children’s school supplies and decide what is needed and what can be reused, which just makes good budgeting sense for families with growing children.”
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