Back-to-school shopping is retail’s second most important sales season, but with it comes budget concerns for both parents and many teens, who according to the National Retail Federation, will spend on average $35.60 of their own money.
With many parents aware that they’ll be budgeting for the holidays soon, 13% plan to spend less than $100 on school preparations, while 39% plan to spend $100-$300 and 28% anticipate shelling out $300-$500. About 22% will spend more than $500. The study also showed that many teenagers think their parents spend less on back-to-school than they actually do.
