Back to school. No three words strike greater dread in school children. Those same three words add up to excitement and opportunity for your clients.
With consumer confidence rising and more young people in school, back-to-college spending is expected to hit an all-time high this year while back-to-school spending is expected to see its second-highest spending level on record, according to the National Retail Federation’s annual survey conducted by Prosper Insights and Analytics.
Retail sales during the back-to-school shopping season of July and August 2017 will grow 4% over 2016, according to eMarketer’s latest forecast. Last year set a record for back-to-school season sales, but 2017 will be even better. U.S. retail sales during those core months will reach an estimated $857.18 billion, accounting for 17% of total retail sales for the year, the editors at eMarketer report.
After splurging in 2014, families will trim back-to-school spending for 2015, according to an NRF Survey. Average spending on back to school has grown 42% in the past 10 years. After spending more on school supplies and electronics in 2014, parents this year will head into the back-to-school season evaluating
For the average parent with school and college-age children, summer months can mean free help around the house and family vacations. It can also mean summer camps and babysitters, pool parties and, of course, back-to-school and college shopping.