We are currently in one of the busiest shopping seasons of the year – Back to School. Every year, retailers are benefited from the start of the school year, but this year the shopping trend is likely to be a little different thanks to the coronavirus pandemic.
As per the National Retail Federation (NRF), back-to-school spending is likely to be an average $789.49 per family, surpassing the previous record of $696.70 last year. Spending is expected to total $33.9 billion, up from $26.2 billion last year and topping the record of $30.3 billion set in 2012.
Majority of the outlays would be made on tech products as the school year will likely begin primarily with remote learning. According to the survey done by NRF, 63% of K-12 families look to buy computers and other electronics this year, up from 54%last year, and they expect to shell out more at an