Back-To-School Spending To Reach Highest Levels In Recent Years

A lot of parents are planning to spend a lot of money to get their kids ready for school next month. A new Deloitte finds:

  • Back-to-school spending will be at its highest levels in recent years.
  • Collectively parents will spend about $32.5 billion for K-12 students, or about $612 per student.
  • For kids going back to college, shoppers will spend $26.7 billion, or about $1,459 per student.
  • And parents aren’t waiting to stock up, with 59% of K-12 parents planning to do their back-to-school shopping in July.
  • Most parents do plan to continue to shop online for their kids’ school needs, although 34% plan to also buy online, pick up in store and use curbside pickup. 

As for where parents plan to spend the most:

  • 40% of K-12 parents plan to spend more on back-to-school items this year.
  • Spending on tech for K-12 students will likely go up 37% over last year to $11.8 billion.
  • Because of more tech use, 44% of parents will spend less on traditional back-to-school items.
  • 58% will spend the same or more on online learning resources.
  • When it comes to college students, 34% of parents plan to spend more this year.
  • Tech spending will increase 17%, while spending on traditional college supplies will be down 9% to $6.8 billion.

Source:Street Insider

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