2024 back-to-school spending projected to remain steady amid parental concerns over rising prices, economy.
2024 back-to-school spending projected to remain steady amid parental concerns over rising prices, economy. Deloitte's back-to-school survey reveals 73% parents express concern about household finances and economic conditions. Low and middle-income families plan to cut back on spending by 4% and 9% respectively. High-income parents expect to spend more (+5%). Total market spend is estimated at $32 billion, with clothing and accessories, and school supplies remaining flat, while tech products decrease by 11%. 86% of parents have enrolled their children in extracurricular activities, spending an average of $582 per child.
August 22, 2024
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