As students brace themselves to say goodbye to their summer freedom and head back to school, their parents brace themselves to say goodbye to their paycheck.
The back-to-school shopping season is the second-largest seasonal shopping period of the year in terms of consumer spending. The shopping season was expected to produce about 75 billion U.S. dollars in spending in 2015. Retailers can thank the growing boys and girls for these sales figures. In 2015, the planned back-to-school expenditure among U.S. consumers amounted to about 630.36 U.S. dollars on average. Studies show that the classic back-to-school items—clothes, shoes, jackets, not to mention school supplies—were in as much demand in 2014 as in 2013.
Shoppers are emerging from the tough economic landscape of the last few years with more cash to spend as well as more spending savvy, having adjusted to living on a budget. They are looking for the necessities and for deals, or ideally a hybrid of the two. Some 9.9 percent of shoppers in 2015 said that a full 100 percent of their back-to-school purchases were influenced by coupons, sales, and promotions. About 25 percent of shoppers also said that back-to-school lists and school requirements influenced 26 to 50 percent of their purchases. Collaborations between retailers and local schools may yield pleasant results for everyone.