It's an annual tradition for many: lugging the kids around for clothing and other supplies at back-to-school time.
But it's also big business, with this time of year ranking only behind the holidays for spending. In a survey conducted last year by the National Retail Federation and Prosper Insights and Analytics, total spending for K-12 and college combined was projected to reach $82.8 billion.
A story out of Denver reported that back-to-school spending had surpassed Christmas shopping for a number of retailers there.
Families with children in elementary through high school planned to spend an average $684.79 each, while college students and families of those in college planned to spend an average $942.17 each.
In an era dominated by tech, it was an old standby that nevertheless ruled the day. Families spent the most on clothing. NRF posited that gadgets have become such a staple in everyday life that they are purchased year-round now rather than being an item that consumers save for and buy at a certain time of year.
Consumers also start fairly early, at an average of three weeks before school begins. This can make for a lengthy retail season, as the start of the school year varies by about a month across the country (anywhere from the beginning of August to the beginning of September).
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.