We’re in the heat of back-to-school shopping, and if you’re wondering exactly how much the school supplies, clothes, and electronics are going to cost you, the answer is $519 per child. That’s according to the Deloitte 2019 Back-to-School Survey.
That $519 accounts for households spending on mainly clothing, school supplies, computers, and electronic gadgets.
Spending on back-to-school shopping is anticipated to (reach) $27.8 billion, spread over 29 million households and 54 million children. Households are projected to spend an average of $519 spend on each student in grades K through 12.
The most wonderful time of the year
Which purchases take the biggest bite out of mom and dad’s wallet? Clothes and accessories (54%), school supplies (22%), electronic gadgets (13%), and computers and hardware (11%).
Forget pencil boxes and notebooks – electronics and gadgets (wearables, smartphones, tablets, etc.) are the hot items of the season, and total spending is set to increase to $800 million, up 29% from 2018.
Most back-to-school shopping will take place in physical stores (56%), as it has in years past, but online shopping will grab 29% of the business.
Shoppers are price-sensitive – their top two deliberations when deciding where to shop are sales and discounts (69%), followed by competitive pricing (57%).
When to begin? Now, if you haven’t already. About 60% of respondents plan on starting one month to six weeks before school is in session. Shoppers who start two weeks before generally spend more – about $370 above the average.