Spend Trend: Back-to-School Retail Spending 2020 - What’s Changed - GSP
Historically, back-to-school shopping is a massive revenue generator for retailers, but it’s also a memory generator for families as students transition from carefree summer days to the exciting educational year ahead. For some, shopping for school clothing and supplies has always united families with their local stores. Here’s how K-12 back to school differs from last year.
What’s Different About 2020 Back-to-School Spending?
- Last year, retailers anticipated back-to-school consumer spending to reach nearly $80.7 billion.
- This year, back-to-class spending looks a bit different as 66% of parents are anxious about their kids returning to physical schools due to the COVID-19 pandemic.
- Back-to-school spending is expected to total about $28.1 billion, or $529 per student.
- Technology spending, on items such as laptops and tablets, is up 28% since last year.
- 26% of shoppers say they plan to use BOPIS (buy online, pick up in store) more frequently this year.
- 54% prefer to shop at mass merchants, down from 81% last year.
What Are Parents Purchasing & Spending This Year?
- 40% of parents plan on buying fewer traditional back-to-school supplies.
- The average spend on clothing and accessories is $261.
- Parents say they’ll spend about $61 on hygiene products and furniture for homeschooling.
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Source: Deloitte’s 13th annual back-to-school survey, conducted the first week of June 2020, examines consumers’ spending patterns based on responses from 1,200 parents in the United States.