Parents will spend $500+ on back to school
'Tis the season for back-to-school shopping, and with that, some serious spending. In the U.S., back-to-school spending is ranked second only to winter holidays, and the National Retail Federation is even predicting that spending for K-12 and college will exceed $75 billion this year, with the largest part of the shopping budget going to new clothes and devices.
According to the NRF, nearly three-quarters of shoppers have already started ticking off their back-to-school shopping list. It also looks like parents are spending FIVE TIMES more on electronics, clothing, and footwear than on their standard school supplies!
According to the report, parents are planning to shell out over $500 on electronics and fashion (clothes, footwear, and fashion accessories) compared to just over $100 on school supplies. What's also nutty is that over the last ten years, spending on electronics has increased by over 75 percent! Check out more information on the survey here.
With the amount of back-to-school gadgets on the market, it probably comes as no surprise that parents are spending more on electronics than ever before, but how much is too much? Is tech for your teen (or toddler!) draining your back-to-school budget?
Let us know how you feel by filling out this poll:
Looking for deals on your back-to-school electronics? Bargainmoose.ca has excellent back to school deals from your favourite electronics retailers like Staples, Best Buy, Microsoft, HP Canada, Dell Canada, The Source, and Amazon.
How much do you expect to spend this year? Leave your comments below!