For many back-to-school shoppers, finding quality items is important, as is spending as little time as possible in the store. But nothing beats a good deal.
A survey of 1,254 US back-to-school shoppers by The Integer Group found that a plurality of respondents said as much. More than 70% of older millennials—those ages 25 to 34—as well as those ages 35 to 44 felt this way. Young adults in the 18- to 24-year-old age bracket were less likely to agree.
Surprising? Not really. Many US households with children feel financially strained. Back-to-school shopping can be expensive. We forecast US retail back-to-school season sales will total $885.16 billion this year. Meanwhile, retail ecommerce sales during July and August will reach $85.55 billion.
A separate survey conducted in July by Citi Retail Services (CRS) found that parents will spend roughly $322 per child this year. And if they take their child shopping with them, they'll spend even more.
Similarly, another study from Deloitte found that US parent internet users who started their school shopping early in June and July ended up shelling out a higher amount. Fully 62% of those who shopped around that timeframe spent an average of $544 on back-to-school purchases. In contrast, Deloitte found that those who planned to start in early August will spend roughly $473.