Back to School Spending Will Hit Record Highs in Louisiana
SHREVEPORT, LA - School starts for most students in our area in just a couple of weeks. Classes are back in session in DeSoto Parish on August 7. The first day for students in Caddo is August 9 while Bossier students return on August 10.
Many parents have already started doing the back-to-school shopping. Lots of folks are looking for deals to save money as prices are high for several items on that supply list.
The National Retail Federation reports we are going to be spending record dollars this year to get our kids ready for school. The annual survey from the NRF says Americans will shell out more than $41 billion dollars this year. We spent about $37 billion last year.
NRF President and CEO Matthew Shay says “retailers have been preparing for months to ensure they are well stocked with essential items that families and students need for the school year.” Shay adds: "Our research for 2023 shows American consumers are eager to jumpstart their back-to-school and college purchases early.”
This survey by the NRF was done in early July and included nearly 8,000 consumers.
The report shows much of this shopping has already started in most parts of the country as consumers try to spread out the shopping over a few weeks. 55% of consumers say they have already started doing back-to-school shopping.
How Much Will You Be Spending this Year?
This survey says the average family will spend just over $890 dollars this year for back to school items for children in elementary through high school. This is about $25 dollars more than what we spent last year. This amount represents a new record high.
What Is Costing More This Year?
You can expect to pay more for all of the electronics and accessories your youngster might need. As in past years, the top electronics consumers plan to purchase are laptops (51%), tablets (36%) and calculators (29%). You will also spend more on clothing for getting your kids back to class. But you will also find higher prices for pens and pencils and other classroom supplies.
Where Are We Buying Our Supplies?
I like to try to do all my shopping locally, if possible. The NRF reports the top destinations for back-to-school shopping are online, department stores and discount stores. And shoppers are looking for ways to stretch the dollars by comparing prices and checking out off-brand or generic items rather than name brands.
Things You Shouldn't Buy When Back To School Shopping