The excitement that typically surrounds the back-to-school season is being replaced by stress and uncertainty. Lack of clarity surrounding school reopenings, combined with lack of confidence in remote learning procedures, are driving big spending shifts among parents and caregivers.
First, the good news: back-to-school spending is poised to reach an all-time high among all parents, reaching a total of $101.6 billion, according to research from the National Retail Federation (NRF) and Prosper Insights & Analytics. This number far surpasses last year’s spending total of $80.7 billion, and it represents the first time back-to-school spending is poised to exceed $100 billion.
