For many retailers, back-to-school revenues comprise a large part of their annual sales. Thus, an uptick or down-tick for this season can have a big impact on the bottom line.
This is the National Retail Federation’s take on back-to-school 2013:
“A combination of pent-up demand and a growing population of school children put 2012 back-to-school spending in the history books, leaving parents in 2013 with an array of school supplies that still work, and a significantly shorter shopping list. According to NRF’s 2013 Back-to-School Survey conducted by Prosper Insights & Analytics, families with school-age children will spend an average $634.78 on apparel, shoes, supplies, and electronics, down from $688.62 last year. Total spending on back-to-school is expected to reach $26.7 billion. Total back-to-school and back-to-college spending combined will reach $72.5 billion.”
“‘The good news is that consumers are spending, but they are doing so with cost and practicality in mind. Having splurged on their growing children’s needs last year, parents will ask their kids to reuse what they can for the upcoming school season.’ said NRF President and CEO Matthew Shay. ‘As they continue to grapple with the impact of increased payroll taxes, Americans will look to cut corners where they can, but will buy what their kids need. It’s important to note, however, that spending levels are still well above where they were a few years ago.'”
Click on the infographic to learn more.