Since we’re in the heart of the summer, you’d imagine most parents and children have put the thought of back-to-school far from their minds. Nope. It turns out a lot of them are probably already thinking about it, at least about the back-to-school shopping part. A new survey by Deloitte of parents with kids in grades K to 12 finds that they'll likely spend an average of $501 per student this year, which comes out to about $27-billion overall.
Not surprising, the majority of folks, 98%, will be spending their money on school supplies, to the tune of about $104 a person. Other major expenses include
- Clothes and accessories – 97%, average spend $284
- Computers and hardware – 23%, average spend $307
- Electronic gadgets – 18%, average spend $254
As for where they’ll be spending their money, 41% will go to mass merchants, an increase of 24% from last year, while 28% will go to off-price stores, and 28% will go to department stores, down from 54% last year. And that shopping has probably already started, with 60% saying they begin their back-to-school shopping in July, while 92% say they won’t actually be finished until August.
- Surprisingly, despite the ease of shopping online, most people will still be heading to stores for their back-to-school items. In fact, 57% will make their purchases in-store, while 21% will shop online, and 22% are actually undecided.
Source: Deloitte