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.