This year’s back-to-school spending could reach an all-time high. A prediction from the National Retail Federation says nationwide spending could reach more than $41 billion dollars.
The survey says families with kids in kindergarten through grade 12 plan to spend around $900. College students plan to spend nearly $1,300.
This also comes as inflation following the lift on COVID-19 restrictions has increased the price of goods across the board.
Steve McClain is a representative from the Kentucky Retail Federation. He said the biggest culprit for higher back-to-school prices is the increased use of electronics in classrooms.
“When you think about it, you know, the pandemic’s two or three years ago, you saw a huge increase of students learning at home,” McClain said. “People needing to get computers, laptops, tablets headphones, microphones, those kinds of things for their kids to learn at home. We're three years removed from that now, and those items are needing replacing.
Electronics, alongside an increase in the cost of clothing and accessories, are shoppers’ biggest pain points.
McClain says starting back-to-school shopping as early as possible and comparing prices from different stores is the easiest way to save.
“You're seeing a lot more people comparative shopping online,” McClain said. “They may not be shopping online, but they're at least going to websites and comparative shopping to see who has the best prices on products.”
The survey says 55 percent of shoppers have already made a head start on their shopping, as of early July.
