Back-to-School Shopping to Kick Off Later This Year
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Despite marketers’ insistence on kicking off back-to-school advertising in July, more consumers will be shopping closer to the start of school this year.
According to the National Retail Federation, 33% of shoppers will begin shopping less than two weeks before school starts, including a small but growing percentage who will wait until after school starts. By comparison, 27% shopped during the same period last year.
NRF, which conducts its annual back-to-school survey with Prosper Insights & Analytics, expects combined back-to-school and back-to-college spending to reach $74.9 billion, down 11% from last year’s $84 billion. According to NRF, there are fewer students in households this year, but those families spending will be spending a little more. The average family with K-12 students will spend $669.28 this season, up 5% from a year ago. The average family with college students will spend $916.48, up 10% from a year ago.
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