The back-to-school (BTS) season, which had traditionally been confined to August and early September, has been expanding as its boundaries have blurred. In 2022, a National Retail Federation/Prosper Insights and Analytics survey indicated that 56% of consumers had started their BTS shopping by early July, with 81% planning to shop sales the week of July 11.
Perhaps more worrisome for retailers, 2022 saw a leveling-off of household spending on education-related purchases. Back-to-college spending was essentially flat from 2021 to 2022, dropping from $1,200 to $1,199 per household, and the back-to-school spending average rose just $15,from $849 to $864. With inflation concerns persisting this year, it’s likely that 2023 will see similar results.
