Back-to-school spending won't give retailers much of a boost this year, survey says
Back-to-school spending remains mainly flat, with a projected increase of 1.8% to $27.8 billion this year, or about $519 a student for those in grades K-12, according to a new survey from Deloitte.Consumers are projected to spend $800 million more on electronic gadgets for a total of $3.6 billion, as more school work gets stored in the cloud so students can easily work on projects at home.
Households will average $519 a student and spend 54% of their budget on clothing and accessories, generating $15 billion in sales, according to the survey, which polled 1,200 parents who have at least one child attending school in grades K–12 this fall. "Generally the consumer feels pretty good about where they are — they don't feel the need to spend more or less," said Rod Sides, a vice chairman of retail and distribution at Deloitte. "If you look at the category themselves, they've also been fairly flat."
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